LandBridge Company LLC (NYSE:LB) Given Average Rating of “Hold” by Analysts

LandBridge Company LLC (NYSE:LB) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $76.1667.

A number of analysts have recently weighed in on LB shares. Barclays increased their price objective on LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Zacks Research lowered LandBridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Wells Fargo & Company increased their price objective on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. The Goldman Sachs Group set a $84.00 price objective on LandBridge in a research note on Thursday, May 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research note on Wednesday, April 8th.

LandBridge Trading Down 0.2%

Shares of LB opened at $63.79 on Friday. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 65.76 and a beta of 0.08. LandBridge has a fifty-two week low of $43.75 and a fifty-two week high of $85.60. 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 firm has a 50 day moving average price of $69.23 and a 200-day moving average price of $64.17.

LandBridge (NYSE:LB) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). The company had revenue of $51.01 million for the quarter, compared to analysts’ expectations of $58.72 million. LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. As a group, equities research analysts forecast that LandBridge will post 1.48 earnings per share for the current year.

LandBridge Dividend Announcement

The business also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 4th. LandBridge’s dividend payout ratio is 49.48%.

LandBridge announced that its board has authorized a share repurchase plan on Wednesday, February 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On LandBridge

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of LandBridge by 996.1% during the first quarter. Bank of America Corp DE now owns 64,933 shares of the company’s stock valued at $4,484,000 after acquiring an additional 59,009 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of LandBridge by 58.7% during the first quarter. Janus Henderson Group PLC now owns 14,325 shares of the company’s stock valued at $990,000 after acquiring an additional 5,300 shares in the last quarter. Adalta Capital Management LLC bought a new position in shares of LandBridge during the first quarter valued at approximately $779,000. EverSource Wealth Advisors LLC raised its holdings in shares of LandBridge by 564.1% during the first quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after acquiring an additional 440 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of LandBridge by 44.3% during the first quarter. California State Teachers Retirement System now owns 23,780 shares of the company’s stock valued at $1,642,000 after acquiring an additional 7,297 shares in the last quarter.

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.