Barclays Issues Positive Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its target price hoisted by Barclays from $79.00 to $80.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other brokerages have also commented on LB. Wells Fargo & Company set a $82.00 price objective on LandBridge and gave the company an “overweight” rating in a research report on Friday, March 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research report on Friday, January 3rd. Raymond James increased their price objective on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. Finally, Piper Sandler reduced their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.56.

LandBridge Stock Performance

NYSE:LB opened at $77.61 on Friday. The business’s 50-day moving average price is $70.03 and its two-hundred day moving average price is $61.10. LandBridge has a twelve month low of $18.75 and a twelve month high of $84.70. The stock has a market cap of $5.68 billion and a P/E ratio of 21.80. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 annualized dividend and a yield of 0.52%. LandBridge’s payout ratio is 11.24%.

Hedge Funds Weigh In On LandBridge

Institutional investors and hedge funds have recently bought and sold shares of the stock. Horizon Kinetics Asset Management LLC grew its position in shares of LandBridge by 4.0% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company’s stock worth $348,793,000 after buying an additional 208,408 shares during the last quarter. First Manhattan CO. LLC. grew its position in shares of LandBridge by 23.5% in the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock worth $175,292,000 after buying an additional 516,380 shares during the last quarter. FMR LLC grew its position in shares of LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after buying an additional 686,070 shares during the last quarter. Hood River Capital Management LLC bought a new stake in shares of LandBridge in the 4th quarter worth approximately $41,431,000. Finally, Vanguard Group Inc. bought a new stake in shares of LandBridge in the 4th quarter worth approximately $38,480,000.

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.