LandBridge (NYSE:LB) Trading 8.6% Higher – What’s Next?

LandBridge Company LLC (NYSE:LB) traded up 8.6% on Tuesday . The company traded as high as $74.80 and last traded at $75.8750. 83,810 shares changed hands during trading, a decline of 81% from the average session volume of 436,587 shares. The stock had previously closed at $69.85.

Analyst Upgrades and Downgrades

LB has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Piper Sandler restated a “neutral” rating and issued a $66.00 price objective (up from $65.00) on shares of LandBridge in a research report on Friday, May 8th. The Goldman Sachs Group set a $84.00 price objective on shares of LandBridge in a research note on Thursday, May 28th. Zacks Research upgraded shares of LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.17.

LandBridge Trading Up 12.5%

The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 80.94 and a beta of 0.08. The company’s 50-day moving average price is $68.84 and its 200-day moving average price is $64.47. 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 results 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 company 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%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. Equities analysts expect that LandBridge Company LLC will post 1.48 EPS for the current fiscal year.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, June 4th. LandBridge’s payout ratio is 49.48%.

Institutional Investors Weigh In On LandBridge

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC lifted its stake in LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of LandBridge in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of LandBridge by 564.1% in the first quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after purchasing an additional 440 shares during the last quarter. Quattro Advisors LLC acquired a new position in LandBridge during the fourth quarter worth $36,000. Finally, Galaxy Group Investments LLC acquired a new stake in shares of LandBridge in the 4th quarter worth $36,000.

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