LandBridge Company LLC (NYSE:LB) Stock Has Average Target Price of $83.00

LandBridge Company LLC (NYSE:LB) has been assigned a consensus rating of “Hold” from the ten research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $83.00.

Several brokerages have issued reports on LB. Weiss Ratings raised shares of LandBridge from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, October 9th. Zacks Research lowered shares of LandBridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Piper Sandler boosted their target price on shares of LandBridge from $80.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, September 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $91.00 price target on shares of LandBridge in a research report on Monday, October 19th. Finally, Citigroup lifted their price target on shares of LandBridge from $66.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 26th.

LandBridge Price Performance

Shares of NYSE:LB opened at $79.36 on Friday. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 70.04 and a beta of 0.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27. LandBridge has a 12 month low of $43.75 and a 12 month high of $91.69. The business’s 50 day simple moving average is $84.40 and its 200-day simple moving average is $72.73.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 27th. LandBridge’s dividend payout ratio is presently 42.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LB. Schwartz Investment Counsel Inc. grew its position in LandBridge by 31.0% during the third quarter. Schwartz Investment Counsel Inc. now owns 844,263 shares of the company’s stock valued at $68,529,000 after acquiring an additional 199,547 shares during the period. Mad River Investors increased its stake in LandBridge by 1.3% during the first quarter. Mad River Investors now owns 266,385 shares of the company’s stock worth $18,394,000 after acquiring an additional 3,451 shares during the last quarter. Ashford Capital Management Inc. purchased a new position in shares of LandBridge in the 1st quarter worth about $17,162,000. Sei Investments Co. raised its holdings in shares of LandBridge by 100.0% in the 1st quarter. Sei Investments Co. now owns 134,720 shares of the company’s stock worth $9,302,000 after purchasing an additional 67,360 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of LandBridge by 996.1% in the 1st quarter. Bank of America Corp DE now owns 64,933 shares of the company’s stock worth $4,484,000 after purchasing an additional 59,009 shares during the period.

About LandBridge

LandBridge Company (NYSE: LB) is a landowner and infrastructure-focused real estate company serving the energy and industrial sectors. The company owns and manages large tracts of land in the Permian Basin, primarily in West Texas and southeastern New Mexico, one of the leading oil and natural gas producing regions in the United States.

LandBridge generates revenue by providing access to its properties and related resources. Its activities include surface-use agreements, easements, rights-of-way, water services, mineral and royalty interests, and accommodations for energy, logistics, and infrastructure projects.