LandBridge (NYSE:LB) Trading Up 9.1% – Here’s Why

LandBridge Company LLC (NYSE:LB) rose 9.1% on Monday . The company traded as high as $82.22 and last traded at $82.2920. 297,236 shares were traded during mid-day trading, a decline of 29% from the average session volume of 417,399 shares. The stock had previously closed at $75.40.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LB shares. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research report on Monday, July 6th. Piper Sandler raised their price target on shares of LandBridge from $66.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. The Goldman Sachs Group set a $84.00 price target on shares of LandBridge in a research note on Thursday, May 28th. Finally, Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $79.20.

LandBridge Trading Up 9.3%

The company has a market capitalization of $6.35 billion, a P/E ratio of 72.68 and a beta of 0.07. The company has a debt-to-equity ratio of 0.64, a quick ratio of 7.27 and a current ratio of 7.27. The stock has a fifty day moving average of $72.66 and a 200 day moving average of $69.38.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. LandBridge’s dividend payout ratio (DPR) is currently 42.48%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new stake in LandBridge in the fourth quarter valued at approximately $2,865,000. HighTower Advisors LLC increased its position in shares of LandBridge by 30.7% during the fourth quarter. HighTower Advisors LLC now owns 110,626 shares of the company’s stock worth $5,420,000 after purchasing an additional 26,014 shares in the last quarter. Mad River Investors increased its position in shares of LandBridge by 9.1% during the fourth quarter. Mad River Investors now owns 262,934 shares of the company’s stock worth $12,881,000 after purchasing an additional 21,878 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of LandBridge during the 4th quarter valued at $33,817,000. Finally, Annex Advisory Services LLC boosted its position in shares of LandBridge by 8.6% in the 4th quarter. Annex Advisory Services LLC now owns 294,143 shares of the company’s stock worth $14,410,000 after purchasing an additional 23,324 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.