LandBridge Co LLC’s (NYSE:LB) Lock-Up Period To Expire on December 25th

LandBridge’s (NYSE:LB) lock-up period will end on Wednesday, December 25th. LandBridge had issued 14,500,000 shares in its IPO on June 28th. The total size of the offering was $246,500,000 based on an initial share price of $17.00. After the end of LandBridge’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. The Goldman Sachs Group lifted their target price on LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler lifted their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Barclays boosted their price target on LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Citigroup boosted their price target on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.00.

LandBridge Price Performance

NYSE LB opened at $58.29 on Friday. 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 has a 1-year low of $18.75 and a 1-year high of $80.82. The stock has a market capitalization of $4.26 billion and a P/E ratio of 16.37. The firm has a 50 day moving average price of $62.66.

LandBridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, December 5th. LandBridge’s payout ratio is currently 11.24%.

Institutional Trading of LandBridge

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

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.