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

Shares of LandBridge Company LLC (NYSE:LB) have received an average recommendation of “Hold” from the nine analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $76.1667.

A number of equities analysts have issued reports on the company. Piper Sandler reiterated a “neutral” rating and issued a $66.00 price objective (up from $65.00) on shares of LandBridge in a report on Friday, May 8th. Barclays increased their price objective on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. The Goldman Sachs Group set a $84.00 price objective on LandBridge in a report on Thursday, May 28th. Zacks Research downgraded LandBridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a report on Wednesday, April 8th.

Hedge Funds Weigh In On LandBridge

A number of institutional investors have recently added to or reduced their stakes in the company. First Manhattan CO. LLC. raised its holdings in LandBridge by 24.0% in the fourth quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock worth $338,714,000 after purchasing an additional 1,330,099 shares in the last quarter. Vanguard Group Inc. raised its holdings in LandBridge by 8.7% in the third quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after purchasing an additional 68,343 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of LandBridge during the fourth quarter valued at $33,817,000. Schwartz Investment Counsel Inc. increased its holdings in shares of LandBridge by 2.3% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock valued at $29,046,000 after acquiring an additional 13,128 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of LandBridge by 11.4% during the third quarter. Raymond James Financial Inc. now owns 453,423 shares of the company’s stock valued at $24,190,000 after acquiring an additional 46,567 shares in the last quarter.

LandBridge Price Performance

Shares of LandBridge stock opened at $63.79 on Friday. 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 has a market cap of $4.92 billion, a PE ratio of 65.76 and a beta of 0.08. The business has a 50 day moving average of $69.23 and a 200 day moving average of $64.17. LandBridge has a 52 week low of $43.75 and a 52 week high of $85.60.

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

LandBridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a $0.12 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. LandBridge’s dividend payout ratio is 49.48%.

LandBridge declared that its board has initiated a share repurchase program on Wednesday, February 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.