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

LandBridge (NYSE:LB) had its target price upped by Piper Sandler from $39.00 to $79.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also weighed in on LB. Barclays increased their price objective on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Citigroup raised their price target on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company raised their price target on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group raised their price target on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.88.

LandBridge Trading Up 4.3 %

NYSE:LB opened at $79.12 on Monday. LandBridge has a 1-year low of $18.75 and a 1-year high of $80.50. The business has a fifty day simple moving average of $55.38. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Thursday, December 5th.

Hedge Funds Weigh In On LandBridge

Several hedge funds and other institutional investors have recently modified their holdings of LB. FMR LLC lifted its stake in shares of LandBridge by 40.5% in the third 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 in the last quarter. Horizon Kinetics Asset Management LLC lifted its stake in shares of LandBridge by 10.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after buying an additional 484,968 shares in the last quarter. Schwartz Investment Counsel Inc. increased its position in LandBridge by 617.7% during the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after purchasing an additional 363,345 shares during the last quarter. Mad River Investors acquired a new stake in LandBridge during the third quarter worth about $9,097,000. Finally, Moors & Cabot Inc. acquired a new stake in LandBridge during the third quarter worth about $4,302,000.

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.