The Goldman Sachs Group Reiterates Buy Rating for LandBridge (NYSE:LB)

The Goldman Sachs Group reiterated their buy rating on shares of LandBridge (NYSE:LB) in a research note published on Friday morning, MarketBeat.com reports. The Goldman Sachs Group currently has a $71.00 target price on the stock.

A number of other equities research analysts have also commented on LB. Barclays upped their price target on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Citigroup increased their target price on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Piper Sandler boosted their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, LandBridge has an average rating of “Moderate Buy” and a consensus target price of $43.11.

LandBridge Price Performance

LB opened at $70.00 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge has a 1 year low of $18.75 and a 1 year high of $80.82. The stock’s 50 day moving average is $64.90. The company has a market cap of $5.12 billion and a price-to-earnings ratio of 19.66.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. LandBridge’s dividend payout ratio is presently 11.24%.

Institutional Trading of LandBridge

A number of hedge funds have recently modified their holdings of LB. nVerses Capital LLC purchased a new position in LandBridge during the 3rd quarter valued at about $31,000. M&R Capital Management Inc. purchased a new stake in shares of LandBridge in the 3rd quarter worth approximately $39,000. BNP Paribas Financial Markets bought a new position in LandBridge during the 3rd quarter valued at approximately $168,000. Axxcess Wealth Management LLC purchased a new position in LandBridge during the third quarter valued at $218,000. Finally, Requisite Capital Management LLC bought a new stake in LandBridge in the third quarter worth $293,000.

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.