Brokerages Set LandBridge Co LLC (NYSE:LB) PT at $60.67

Shares of LandBridge Co LLC (NYSE:LB) have earned an average rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $60.67.

A number of brokerages have recently commented on LB. Wells Fargo & Company increased their target price on shares of LandBridge from $82.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Johnson Rice cut shares of LandBridge from a “buy” rating to an “accumulate” rating in a research report on Wednesday, May 21st. Barclays lifted their target price on shares of LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Piper Sandler reduced their price target on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, The Goldman Sachs Group increased their price objective on LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th.

LandBridge Stock Down 0.7%

Shares of LB stock opened at $72.56 on Wednesday. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $87.60. The firm has a market capitalization of $5.31 billion and a PE ratio of 20.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $73.22 and its 200-day simple moving average is $70.16.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge’s payout ratio is currently 11.24%.

Insider Buying and Selling at LandBridge

In related news, Director David N. Capobianco sold 1,900,000 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $75.25, for a total transaction of $142,975,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 70.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LandBridge

Several institutional investors have recently added to or reduced their stakes in LB. US Bancorp DE purchased a new position in shares of LandBridge in the 1st quarter valued at $28,000. Uniplan Investment Counsel Inc. acquired a new position in LandBridge in the first quarter valued at $30,000. Banque Transatlantique SA purchased a new position in shares of LandBridge during the first quarter worth about $34,000. Fairway Wealth LLC acquired a new stake in shares of LandBridge during the fourth quarter worth about $50,000. Finally, Generali Investments Management Co LLC purchased a new stake in shares of LandBridge in the 4th quarter valued at about $52,000.

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.