LandBridge (NYSE:LB) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of LandBridge Company LLC (NYSE:LB) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $75.10 and traded as high as $88.26. LandBridge shares last traded at $85.8330, with a volume of 241,658 shares trading hands.

Wall Street Analyst Weigh In

LB has been the subject of several recent research reports. Citigroup raised their target price on shares of LandBridge from $66.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 26th. Piper Sandler upped their price target on shares of LandBridge from $80.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, September 1st. Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings upgraded LandBridge from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 24th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.67.

LandBridge Stock Up 2.4%

The company has a debt-to-equity ratio of 0.64, a quick ratio of 7.27 and a current ratio of 7.27. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 77.67 and a beta of 0.17. The business’s 50 day moving average price is $83.34 and its 200 day moving average price is $75.21.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 27th. LandBridge’s dividend payout ratio (DPR) is currently 42.48%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. First Manhattan CO. LLC. lifted its stake in LandBridge by 24.0% in the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock worth $338,714,000 after purchasing an additional 1,330,099 shares in the last quarter. Ashford Capital Management Inc. purchased a new stake in shares of LandBridge in the first quarter valued at approximately $17,162,000. Cinctive Capital Management LP grew its position in shares of LandBridge by 128.7% in the fourth quarter. Cinctive Capital Management LP now owns 126,914 shares of the company’s stock valued at $6,218,000 after purchasing an additional 71,425 shares in the last quarter. Sei Investments Co. increased its holdings in shares of LandBridge by 100.0% in the first quarter. Sei Investments Co. now owns 134,720 shares of the company’s stock valued at $9,302,000 after purchasing an additional 67,360 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in LandBridge by 996.1% during the first quarter. Bank of America Corp DE now owns 64,933 shares of the company’s stock worth $4,484,000 after buying an additional 59,009 shares in the last quarter.

LandBridge Company Profile

LandBridge Company (NYSE: LB) is a land and resource management company that owns and manages large tracts of land in the Permian Basin, one of the United States’ leading oil and natural gas producing regions. Its properties are located primarily in the Delaware sub-basin of West Texas and southeastern New Mexico.

The company generates revenue by providing land access and related services to energy, infrastructure, industrial and other commercial customers. Its assets may support oil and gas development, midstream infrastructure, renewable energy projects, data centers, transportation facilities and other uses.