LandBridge Company LLC (NYSE:LB) Receives Average Rating of “Hold” from Brokerages

Shares of LandBridge Company LLC (NYSE:LB) have been given an average rating of “Hold” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $79.20.

A number of research firms have weighed in on LB. The Goldman Sachs Group set a $84.00 target price on shares of LandBridge in a report on Thursday, May 28th. Piper Sandler lifted their price target on shares of LandBridge from $66.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Weiss Ratings raised shares of LandBridge from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, Zacks Research upgraded LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd.

Hedge Funds Weigh In On LandBridge

Institutional investors and hedge funds have recently modified their holdings of the business. First Manhattan CO. LLC. increased its stake in LandBridge by 24.0% during the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after purchasing an additional 1,330,099 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of LandBridge in the fourth quarter valued at $33,817,000. DF Dent & Co. Inc. bought a new position in shares of LandBridge in the fourth quarter valued at $21,506,000. Ashford Capital Management Inc. acquired a new position in shares of LandBridge during the first quarter valued at about $17,162,000. Finally, Goldman Sachs Group Inc. increased its position in shares of LandBridge by 1,957.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 214,771 shares of the company’s stock worth $10,522,000 after acquiring an additional 204,331 shares in the last quarter.

LandBridge Price Performance

Shares of NYSE:LB opened at $78.35 on Monday. LandBridge has a one year low of $43.75 and a one year high of $88.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 69.34 and a beta of 0.06. The firm has a 50 day simple moving average of $73.30 and a 200 day simple moving average of $70.02.

LandBridge Announces Dividend

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

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.