Analysts Set LandBridge Co LLC (NYSE:LB) Price Target at $60.67

LandBridge Co LLC (NYSE:LB) has been given an average rating of “Moderate Buy” by the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $60.67.

LB has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on LandBridge from $82.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Johnson Rice downgraded LandBridge from a “buy” rating to an “accumulate” rating in a report on Wednesday, May 21st. The Goldman Sachs Group upped their price objective on LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, March 26th. Piper Sandler dropped their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Barclays boosted their target price on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st.

LandBridge Stock Performance

Shares of NYSE LB opened at $72.56 on Wednesday. The business’s 50-day simple moving average is $73.22 and its 200-day simple moving average is $70.29. LandBridge has a 52 week low of $18.75 and a 52 week high of $87.60. The firm has a market cap of $5.31 billion and a price-to-earnings 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.

LandBridge Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, June 5th. LandBridge’s payout ratio is 11.24%.

Insiders Place Their Bets

In other news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 70.42% of the company’s stock.

Hedge Funds Weigh In On LandBridge

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new position in LandBridge during the 1st quarter valued at about $28,000. Uniplan Investment Counsel Inc. acquired a new position in LandBridge during the 1st quarter valued at about $30,000. Banque Transatlantique SA acquired a new position in LandBridge during the 1st quarter valued at about $34,000. Fairway Wealth LLC acquired a new position in LandBridge during the 4th quarter valued at about $50,000. Finally, Generali Investments Management Co LLC acquired a new position in LandBridge during 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.