LandBridge (NYSE:LB) Given New $70.00 Price Target at Piper Sandler

LandBridge (NYSE:LB) had its price objective decreased by Piper Sandler from $79.00 to $70.00 in a research report report published on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. 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. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Raymond James boosted their target price on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Barclays increased their price target on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.33.

LandBridge Trading Up 9.9 %

Shares of LB stock opened at $67.60 on Friday. LandBridge has a 1-year low of $18.75 and a 1-year high of $84.70. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock has a market cap of $4.95 billion and a price-to-earnings ratio of 18.99. The stock has a 50-day moving average of $69.31 and a 200-day moving average of $58.84.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Trading of LandBridge

Several large investors have recently made changes to their positions in the company. Fairway Wealth LLC acquired a new position in LandBridge during the 4th quarter worth approximately $50,000. Generali Investments Management Co LLC bought a new stake in shares of LandBridge during the fourth quarter valued at approximately $52,000. KBC Group NV acquired a new position in shares of LandBridge during the fourth quarter worth approximately $72,000. Comerica Bank lifted its holdings in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company’s stock worth $75,000 after purchasing an additional 265 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in LandBridge in the 4th quarter valued at $110,000.

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.