LandBridge Company LLC (NYSE:LB) Receives Average Recommendation of “Hold” from Analysts

Shares of LandBridge Company LLC (NYSE:LB) have been given a consensus recommendation of “Hold” by the ten research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $81.67.

A number of equities research analysts have issued reports on the company. Piper Sandler increased their price target on LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Citigroup boosted their price objective on LandBridge from $66.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 26th. Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings raised LandBridge from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 24th.

LandBridge Stock Performance

Shares of NYSE LB opened at $83.52 on Tuesday. The stock has a market cap of $6.44 billion, a PE ratio of 73.91 and a beta of 0.17. LandBridge has a 1 year low of $43.75 and a 1 year high of $91.69. The firm has a fifty day moving average price of $82.76 and a 200-day moving average price of $74.98. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, August 27th. LandBridge’s dividend payout ratio is presently 42.48%.

Hedge Funds Weigh In On LandBridge

Hedge funds have recently modified their holdings of the stock. First Manhattan CO. LLC. lifted its holdings in shares of LandBridge by 24.0% in the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock worth $338,714,000 after acquiring an additional 1,330,099 shares during the last quarter. Ashford Capital Management Inc. bought a new position in LandBridge during the 1st quarter valued at about $17,162,000. Cinctive Capital Management LP grew its holdings in LandBridge by 128.7% during the 4th quarter. Cinctive Capital Management LP now owns 126,914 shares of the company’s stock valued at $6,218,000 after purchasing an additional 71,425 shares during the last quarter. Sei Investments Co. grew its holdings in LandBridge by 100.0% during the 1st quarter. Sei Investments Co. now owns 134,720 shares of the company’s stock valued at $9,302,000 after purchasing an additional 67,360 shares during the last quarter. Finally, Bank of America Corp DE raised its position in LandBridge by 996.1% in 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.

About LandBridge

LandBridge Company (NYSE: LB) is a land and resource management company that owns and manages large tracts of land in the Permian Basin, one of the United States’ leading oil and natural gas producing regions. Its properties are located primarily in the Delaware sub-basin of West Texas and southeastern New Mexico.

The company generates revenue by providing land access and related services to energy, infrastructure, industrial and other commercial customers. Its assets may support oil and gas development, midstream infrastructure, renewable energy projects, data centers, transportation facilities and other uses.