LandBridge Co LLC (NYSE:LB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of LandBridge Co LLC (NYSE:LB) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $36.57.

A number of research firms recently issued reports on LB. The Goldman Sachs Group raised their target price on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays upped their price target on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Wells Fargo & Company lifted their price objective on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Citigroup increased their target price on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th.

Institutional Investors Weigh In On LandBridge

A number of institutional investors have recently added to or reduced their stakes in LB. HighTower Advisors LLC lifted its position in LandBridge by 370.2% in the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after purchasing an additional 54,048 shares during the period. Centiva Capital LP lifted its holdings in shares of LandBridge by 4.7% during the 3rd quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock worth $373,000 after acquiring an additional 427 shares during the period. Flow Traders U.S. LLC acquired a new stake in shares of LandBridge during the 3rd quarter valued at about $600,000. Verition Fund Management LLC bought a new stake in LandBridge in the third quarter valued at about $536,000. Finally, BNP Paribas Financial Markets acquired a new position in LandBridge in the third quarter worth about $168,000.

LandBridge Stock Up 14.8 %

Shares of LB stock opened at $77.41 on Friday. LandBridge has a 12 month low of $18.75 and a 12 month high of $78.41. The firm has a market capitalization of $5.66 billion and a P/E ratio of 21.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50 day moving average is $52.30.

LandBridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, December 5th. LandBridge’s payout ratio is presently 11.24%.

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.