LandBridge (NYSE:LB) Stock Rating Upgraded by Zacks Research

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

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

LandBridge Trading Up 2.4%

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

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.44). The business had revenue of $51.01 million during the quarter, compared to analysts’ expectations of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.LandBridge’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. Equities analysts forecast that LandBridge will post 1.48 EPS for the current fiscal year.

LandBridge declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of LandBridge

Several institutional investors and hedge funds have recently bought and sold shares of LB. First Manhattan CO. LLC. boosted its holdings in 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 purchasing an additional 1,330,099 shares during the last quarter. Vanguard Group Inc. grew its position in LandBridge by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after purchasing an additional 68,343 shares during the period. William Blair Investment Management LLC purchased a new position in shares of LandBridge during the 4th quarter valued at about $33,817,000. Schwartz Investment Counsel Inc. lifted its holdings in shares of LandBridge by 2.3% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock valued at $29,046,000 after buying an additional 13,128 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in shares of LandBridge by 11.4% in the 3rd quarter. Raymond James Financial Inc. now owns 453,423 shares of the company’s stock valued at $24,190,000 after buying an additional 46,567 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.