LandBridge Company LLC (NYSE:LB) Receives $76.17 Average Price Target from Analysts

Shares of LandBridge Company LLC (NYSE:LB) have been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $78.50.

LB has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $84.00 price objective on shares of LandBridge in a research report on Thursday, May 28th. Piper Sandler raised their target price on shares of LandBridge from $66.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a report on Monday, July 6th.

Hedge Funds Weigh In On LandBridge

Large investors have recently made changes to their positions in the company. First Manhattan CO. LLC. grew its stake in shares of LandBridge by 24.0% in the fourth quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after acquiring an additional 1,330,099 shares in the last quarter. William Blair Investment Management LLC bought a new position in LandBridge during the fourth quarter worth about $33,817,000. DF Dent & Co. Inc. acquired a new stake in LandBridge in the 4th quarter worth about $21,506,000. Ashford Capital Management Inc. acquired a new stake in LandBridge in the 1st quarter worth about $17,162,000. Finally, Goldman Sachs Group Inc. boosted its holdings in LandBridge by 1,957.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 214,771 shares of the company’s stock valued at $10,522,000 after purchasing an additional 204,331 shares during the period.

LandBridge Stock Performance

LB opened at $78.08 on Thursday. LandBridge has a 12-month low of $43.75 and a 12-month high of $85.60. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 80.50 and a beta of 0.02. The business has a 50 day moving average of $72.05 and a 200-day moving average of $67.38. 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 earnings results on Wednesday, May 6th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.32). The business had revenue of $51.01 million for the quarter, compared to the consensus estimate of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The business’s 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 earnings per share. On average, equities research analysts expect that LandBridge will post 1.48 earnings per share for the current year.

LandBridge Announces Dividend

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

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