The Goldman Sachs Group Issues Positive Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its target price raised by The Goldman Sachs Group from $73.00 to $88.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

LB has been the subject of a number of other reports. Piper Sandler cut their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Raymond James upped their target price on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Barclays lifted their price target on shares of LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the company an “overweight” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.44.

LandBridge Stock Down 8.8 %

Shares of NYSE:LB opened at $69.57 on Wednesday. The firm has a market capitalization of $5.09 billion and a PE ratio of 19.54. 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 52-week low of $18.75 and a 52-week high of $84.70. The firm has a fifty day moving average of $70.41 and a 200 day moving average of $62.56.

LandBridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a $0.10 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. LandBridge’s dividend payout ratio is currently 11.24%.

Hedge Funds Weigh In On LandBridge

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new position in LandBridge in the fourth quarter worth about $1,049,000. B. Riley Wealth Advisors Inc. bought a new stake in LandBridge during the fourth quarter valued at about $218,000. Mackenzie Financial Corp bought a new stake in shares of LandBridge during the fourth quarter valued at approximately $544,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of LandBridge in the fourth quarter worth about $574,000. Finally, Voloridge Investment Management LLC bought a new stake in LandBridge in the fourth quarter worth $1,523,000.

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.