LandBridge (NYSE:LB) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of LandBridge Company LLC (NYSE:LB) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $67.99 and traded as high as $77.01. LandBridge shares last traded at $75.3360, with a volume of 248,454 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. The Goldman Sachs Group set a $84.00 price target on LandBridge in a report on Thursday, May 28th. Piper Sandler increased their price objective on LandBridge from $66.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, LandBridge has an average rating of “Hold” and a consensus target price of $78.50.

LandBridge Stock Up 0.2%

The company has a market cap of $5.80 billion, a P/E ratio of 77.51 and a beta of 0.02. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $72.45 and a 200 day moving average of $68.21.

LandBridge (NYSE:LB) last posted its earnings results on Wednesday, May 6th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). The firm had revenue of $51.01 million during the quarter, compared to the consensus estimate of $58.72 million. LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. On average, research analysts anticipate that LandBridge Company LLC will post 1.48 earnings per share for the current fiscal year.

LandBridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. LandBridge’s dividend payout ratio (DPR) is presently 49.48%.

Institutional Trading of LandBridge

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its position in LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of LandBridge during the 4th quarter worth $33,000. EverSource Wealth Advisors LLC grew its position in shares of LandBridge by 564.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after acquiring an additional 440 shares during the period. Quattro Advisors LLC bought a new stake in shares of LandBridge during the 4th quarter valued at $36,000. Finally, Galaxy Group Investments LLC purchased a new stake in shares of LandBridge in the 4th quarter worth $36,000.

LandBridge Company Profile

LandBridge Company LLC owns and manages land and resources to support and enhance oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico. The company holds a portfolio of oil and gas royalties. It also sells brackish water and other surface composite materials. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.