LandBridge (NYSE:LB) Price Target Raised to $85.00

LandBridge (NYSE:LB) had its target price boosted by Raymond James from $80.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 target price on shares of LandBridge in a research report on Friday, January 3rd. Barclays lifted their price target on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Finally, Piper Sandler increased 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. 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 company’s stock. Based on data from MarketBeat.com, LandBridge has an average rating of “Moderate Buy” and an average target price of $53.33.

LandBridge Trading Down 4.2 %

NYSE LB opened at $65.27 on Tuesday. The company has a market cap of $4.77 billion and a P/E ratio of 18.33. LandBridge has a 12 month low of $18.75 and a 12 month high of $84.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The company has a 50-day moving average of $68.50 and a 200-day moving average of $52.18.

LandBridge (NYSE:LB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.24). The company had revenue of $28.49 million for the quarter, compared to analysts’ expectations of $35.50 million. As a group, equities analysts predict that LandBridge will post 0.99 earnings per share for the current year.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, December 5th. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LB. Blue Trust Inc. acquired a new stake in LandBridge during the 4th quarter valued at approximately $110,000. Schwartz Investment Counsel Inc. increased its stake in shares of LandBridge by 1.0% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company’s stock worth $27,556,000 after buying an additional 4,400 shares during the last quarter. Atlas Wealth Partners LLC acquired a new stake in LandBridge in the fourth quarter valued at $443,000. Stratos Wealth Partners LTD. bought a new position in LandBridge during the 4th quarter valued at $234,000. Finally, Cortland Associates Inc. MO acquired a new position in LandBridge during the 4th quarter worth $9,727,000.

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.