LandBridge (NYSE:LB) Stock Crosses Above 200-Day Moving Average – What’s Next?

LandBridge Company LLC (NYSE:LB) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $66.44 and traded as high as $79.63. LandBridge shares last traded at $78.1120, with a volume of 183,785 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a report on Monday, July 6th. Zacks Research upgraded shares of LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Piper Sandler reissued a “neutral” rating and set a $66.00 price objective (up from $65.00) on shares of LandBridge in a report on Friday, May 8th. Wells Fargo & Company lifted their price objective on shares of LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Finally, The Goldman Sachs Group set a $84.00 price objective on shares of LandBridge in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.17.

LandBridge Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.15 and a current ratio of 3.15. The stock has a market cap of $6.02 billion, a PE ratio of 80.53 and a beta of 0.02. The firm has a fifty day moving average price of $70.98 and a 200 day moving average price of $66.44.

LandBridge (NYSE:LB) last announced its earnings results on Wednesday, May 6th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.32). LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The business had revenue of $51.01 million for the quarter, compared to analysts’ expectations of $58.72 million. During the same quarter last year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Research analysts forecast that LandBridge Company LLC will post 1.48 earnings per share for the current fiscal year.

LandBridge Dividend Announcement

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

Hedge Funds Weigh In On LandBridge

Hedge funds have recently modified their holdings of the stock. Comerica Bank increased its holdings in shares of LandBridge by 13.6% in the third quarter. Comerica Bank now owns 1,369 shares of the company’s stock valued at $73,000 after purchasing an additional 164 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the period. Geode Capital Management LLC lifted its holdings in shares of LandBridge by 0.8% during the second quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock worth $1,958,000 after purchasing an additional 230 shares during the period. Osaic Holdings Inc. increased its holdings in LandBridge by 12.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock worth $183,000 after buying an additional 301 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in LandBridge by 564.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock worth $36,000 after buying an additional 440 shares during the period.

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.