LandBridge (NYSE:LB) Upgraded by Zacks Research to Hold Rating

LandBridge (NYSE:LB) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a report on Wednesday, April 8th. Barclays increased their price target on shares of LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Piper Sandler reissued a “neutral” rating and set a $66.00 price objective (up from $65.00) on shares of LandBridge in a research report on Friday, May 8th. Wells Fargo & Company lifted their price objective on shares of LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Finally, The Goldman Sachs Group set a $84.00 target price on shares of LandBridge in a report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $76.17.

LandBridge Trading Up 2.4%

NYSE:LB opened at $63.84 on Monday. The company has a market capitalization of $4.92 billion, a PE ratio of 65.81 and a beta of 0.08. LandBridge has a 52-week low of $43.75 and a 52-week high of $85.60. The stock’s 50 day moving average price is $69.11 and its 200 day moving average price is $64.30. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66.

LandBridge (NYSE:LB) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). The firm had revenue of $51.01 million during the quarter, compared to analysts’ expectations of $58.72 million. LandBridge had a net margin of 15.71% and a return on equity of 4.34%. LandBridge’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. On average, research analysts anticipate that LandBridge will post 1.48 EPS for the current year.

LandBridge declared that its Board of Directors has authorized a share buyback program on Wednesday, February 25th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On LandBridge

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of LandBridge by 996.1% during the 1st quarter. Bank of America Corp DE now owns 64,933 shares of the company’s stock worth $4,484,000 after purchasing an additional 59,009 shares during the period. Janus Henderson Group PLC lifted its stake in shares of LandBridge by 58.7% in the first quarter. Janus Henderson Group PLC now owns 14,325 shares of the company’s stock valued at $990,000 after purchasing an additional 5,300 shares during the period. Adalta Capital Management LLC purchased a new stake in LandBridge during the first quarter worth about $779,000. EverSource Wealth Advisors LLC boosted its holdings in LandBridge by 564.1% during the first quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock worth $36,000 after buying an additional 440 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in LandBridge by 44.3% during the first quarter. California State Teachers Retirement System now owns 23,780 shares of the company’s stock worth $1,642,000 after buying an additional 7,297 shares during the period.

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.