Analysts Set LandBridge Company LLC (NYSE:LB) Price Target at $76.00

Shares of LandBridge Company LLC (NYSE:LB) have earned a consensus rating of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $76.00.

A number of brokerages have recently commented on LB. Zacks Research lowered shares of LandBridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Wells Fargo & Company upped their price objective on shares of LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. The Goldman Sachs Group upped their price objective on shares of LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a report on Friday, March 13th. Barclays upped their price target on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research note on Wednesday, April 8th.

Insiders Place Their Bets

In other news, Director Charles L. Watson sold 13,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.00, for a total value of $975,000.00. Following the completion of the transaction, the director owned 64,250 shares of the company’s stock, valued at approximately $4,818,750. This represents a 16.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 53,350 shares of company stock worth $3,974,555 over the last three months. Corporate insiders own 70.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LB. NewEdge Advisors LLC lifted its holdings in shares of LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in LandBridge during the 4th quarter valued at approximately $33,000. Quattro Advisors LLC acquired a new stake in LandBridge during the 4th quarter valued at approximately $36,000. Galaxy Group Investments LLC acquired a new stake in LandBridge during the 4th quarter valued at approximately $36,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of LandBridge during the 4th quarter worth approximately $40,000.

LandBridge Stock Performance

Shares of LB opened at $65.83 on Friday. The firm’s 50 day moving average price is $70.16 and its two-hundred day moving average price is $62.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.87 and a current ratio of 4.87. The firm has a market cap of $5.07 billion, a P/E ratio of 70.03 and a beta of 0.14. LandBridge has a twelve month low of $43.75 and a twelve month high of $87.60.

LandBridge announced that its board has authorized a stock buyback program on Wednesday, February 25th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.48 annualized dividend and a yield of 0.7%. LandBridge’s dividend payout ratio is currently 51.06%.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.