LandBridge (NYSE:LB) Trading 5.9% Higher After Analyst Upgrade

LandBridge Co LLC (NYSE:LB) shares shot up 5.9% on Wednesday after Raymond James raised their price target on the stock from $80.00 to $85.00. Raymond James currently has an outperform rating on the stock. LandBridge traded as high as $67.26 and last traded at $67.81. 333,274 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 646,847 shares. The stock had previously closed at $64.02.

A number of other analysts have also recently issued reports on LB. Barclays upped their target price on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th. Piper Sandler raised their price objective on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.33.

Institutional Trading of LandBridge

Several large investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in LandBridge during the second quarter valued at $1,158,000. Ghisallo Capital Management LLC bought a new stake in shares of LandBridge during the 2nd quarter valued at about $1,158,000. M&R Capital Management Inc. bought a new position in LandBridge in the third quarter worth about $39,000. Requisite Capital Management LLC bought a new position in LandBridge in the third quarter worth about $293,000. Finally, Seven Grand Managers LLC lifted its holdings in shares of LandBridge by 14.3% in the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock worth $3,912,000 after purchasing an additional 12,500 shares during the last quarter.

LandBridge Stock Up 5.1 %

The stock has a 50-day moving average of $68.50 and a 200-day moving average of $51.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

LandBridge (NYSE:LB) last announced its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.24). The business had revenue of $28.49 million during the quarter, compared to analysts’ expectations of $35.50 million. Equities analysts expect that LandBridge Co LLC will post 0.99 EPS for the current fiscal year.

LandBridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, December 5th.

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.