LandBridge Co LLC’s (NYSE:LB) Lock-Up Period Set To Expire Tomorrow

LandBridge’s (NYSE:LB) lock-up period is set to expire on Wednesday, December 25th. LandBridge had issued 14,500,000 shares in its initial public offering on June 28th. The total size of the offering was $246,500,000 based on an initial share price of $17.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LB shares. The Goldman Sachs Group upped their price target on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Piper Sandler boosted their price objective on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Barclays raised their target price on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Citigroup boosted their price target on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, LandBridge presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

LandBridge Trading Up 0.4 %

Shares of LandBridge stock opened at $58.52 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge has a 1 year low of $18.75 and a 1 year high of $80.82. The business has a 50-day simple moving average of $62.80. The stock has a market cap of $4.28 billion and a P/E ratio of 16.44.

LandBridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Thursday, December 5th. LandBridge’s payout ratio is presently 11.24%.

Institutional Trading of LandBridge

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its holdings in shares of LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after buying an additional 484,968 shares during the last quarter. Schwartz Investment Counsel Inc. grew its stake in shares of LandBridge by 617.7% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after buying an additional 363,345 shares in the last quarter. Mad River Investors bought a new position in LandBridge during the third quarter valued at approximately $9,097,000. Finally, Moors & Cabot Inc. acquired a new stake in LandBridge in the third quarter valued at approximately $4,302,000.

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.