LandBridge Company LLC (NYSE:LB) Receives $76.17 Average Price Target from Analysts

Shares of LandBridge Company LLC (NYSE:LB) have been assigned a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $76.1667.

Several equities analysts have weighed in on LB shares. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a report on Monday, July 6th. Zacks Research upgraded LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Piper Sandler reaffirmed a “neutral” rating and set a $66.00 price target (up from $65.00) on shares of LandBridge in a research report on Friday, May 8th. Finally, The Goldman Sachs Group set a $84.00 price target on LandBridge in a research note on Thursday, May 28th.

LandBridge Stock Down 2.6%

LB opened at $75.67 on Thursday. LandBridge has a twelve month low of $43.75 and a twelve month high of $85.60. The company’s 50-day moving average price is $71.68 and its two-hundred day moving average price is $66.98. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 78.01 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.

LandBridge (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.32). The company had revenue of $51.01 million for the quarter, compared to analysts’ expectations of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. As a group, equities analysts expect that LandBridge will post 1.48 earnings per share for the current year.

LandBridge Dividend Announcement

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

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LB. Annex Advisory Services LLC raised its position in shares of LandBridge by 11.9% in the second quarter. Annex Advisory Services LLC now owns 33,466 shares of the company’s stock valued at $2,652,000 after purchasing an additional 3,556 shares during the period. Wealthcare Advisory Partners LLC bought a new position in LandBridge in the 2nd quarter worth approximately $254,000. Bank of America Corp DE boosted its holdings in 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 buying an additional 59,009 shares during the period. Janus Henderson Group PLC boosted its holdings in LandBridge by 58.7% in the 1st quarter. Janus Henderson Group PLC now owns 14,325 shares of the company’s stock worth $990,000 after buying an additional 5,300 shares during the period. Finally, Adalta Capital Management LLC bought a new stake in LandBridge during the 1st quarter valued at $779,000.

About LandBridge

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.