LandBridge (NYSE:LB) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of LandBridge Company LLC (NYSE:LB) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $67.99 and traded as high as $77.01. LandBridge shares last traded at $75.3360, with a volume of 248,454 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LB. Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. The Goldman Sachs Group set a $84.00 price objective on LandBridge in a report on Thursday, May 28th. Piper Sandler boosted their target price on LandBridge from $66.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, LandBridge currently has a consensus rating of “Hold” and an average price target of $78.50.

LandBridge Stock Down 1.3%

The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average is $72.45 and its 200-day moving average is $67.99. The company has a market cap of $5.81 billion, a PE ratio of 77.67 and a beta of 0.02.

LandBridge (NYSE:LB) last posted its earnings results on Wednesday, May 6th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). The company had revenue of $51.01 million during the quarter, compared to the consensus estimate 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 period last year, the firm posted $0.37 EPS. On average, analysts predict that LandBridge Company LLC will post 1.48 EPS for the current year.

LandBridge Dividend Announcement

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

Institutional Trading of LandBridge

A number of hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the period. Kestra Advisory Services LLC purchased a new position in LandBridge in the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC grew its stake in shares of LandBridge by 564.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after purchasing an additional 440 shares during the period. Quattro Advisors LLC bought a new stake in shares of LandBridge during the 4th quarter valued at about $36,000. Finally, Galaxy Group Investments LLC purchased a new stake in shares of LandBridge during the 4th quarter valued at about $36,000.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.