The Goldman Sachs Group Issues Positive Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its price objective increased by The Goldman Sachs Group from $69.00 to $84.00 in a research note published on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Raymond James Financial lowered shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Piper Sandler lifted their target price on LandBridge from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, November 24th. Janney Montgomery Scott cut LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday, November 13th. UBS Group reaffirmed a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a report on Monday, November 24th. Finally, Wells Fargo & Company reduced their price objective on LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.67.

LandBridge Price Performance

NYSE:LB opened at $74.71 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.87 and a quick ratio of 4.87. LandBridge has a one year low of $43.75 and a one year high of $87.60. The company has a fifty day moving average price of $61.77 and a 200 day moving average price of $58.28. The stock has a market cap of $5.82 billion, a P/E ratio of 79.47 and a beta of 0.11.

LandBridge declared that its board has approved a share repurchase program on Wednesday, February 25th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

LandBridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. LandBridge’s payout ratio is 51.06%.

Insider Activity

In other LandBridge news, insider Harrison Fenner Bolling bought 850 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were acquired at an average price of $46.84 per share, with a total value of $39,814.00. Following the completion of the purchase, the insider directly owned 66,874 shares in the company, valued at $3,132,378.16. The trade was a 1.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jason Thomas Long purchased 2,143 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was acquired at an average cost of $46.59 per share, with a total value of $99,842.37. Following the transaction, the insider directly owned 223,546 shares of the company’s stock, valued at approximately $10,415,008.14. This represents a 0.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 3,542 shares of company stock worth $164,630 and have sold 53,350 shares worth $3,974,555. 70.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On LandBridge

Several large investors have recently modified their holdings of the stock. First Manhattan CO. LLC. lifted its position in shares of LandBridge by 24.0% during the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock worth $338,714,000 after buying an additional 1,330,099 shares during the period. Vanguard Group Inc. boosted its stake in LandBridge by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock valued at $45,602,000 after buying an additional 68,343 shares in the last quarter. William Blair Investment Management LLC bought a new stake in LandBridge in the fourth quarter valued at $33,817,000. Hood River Capital Management LLC raised its stake in LandBridge by 4.4% during the second quarter. Hood River Capital Management LLC now owns 669,678 shares of the company’s stock worth $45,257,000 after acquiring an additional 28,333 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. raised its stake in LandBridge by 2.3% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock worth $29,046,000 after acquiring an additional 13,128 shares in the last quarter.

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.