LandBridge (NYSE:LB) Price Target Raised to $80.00

LandBridge (NYSE:LB) had its target price lifted by Barclays from $79.00 to $80.00 in a research note published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other analysts have also issued reports about the company. Piper Sandler lowered their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada restated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. The Goldman Sachs Group restated a “buy” rating and set a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, Raymond James raised their target price on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, LandBridge presently has a consensus rating of “Moderate Buy” and an average price target of $57.56.

LandBridge Price Performance

Shares of LB stock opened at $77.61 on Friday. The stock has a 50-day moving average price of $70.03 and a 200 day moving average price of $61.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a market cap of $5.68 billion and a price-to-earnings ratio of 21.80. LandBridge has a 12 month low of $18.75 and a 12 month high of $84.70.

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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On LandBridge

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