LandBridge (NYSE:LB) Stock Price Expected to Rise, Barclays Analyst Says

LandBridge (NYSE:LB) had its price objective hoisted by Barclays from $38.00 to $79.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other brokerages have also recently commented on LB. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Piper Sandler boosted their price target on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, LandBridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.67.

LandBridge Trading Down 0.6 %

NYSE:LB opened at $74.83 on Friday. LandBridge has a 1 year low of $18.75 and a 1 year high of $80.82. 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 fifty day moving average price of $67.51 and a two-hundred day moving average price of $49.32.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.53%. The ex-dividend date was Thursday, December 5th.

Institutional Trading of LandBridge

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in LandBridge in the 2nd quarter valued at about $1,158,000. Ghisallo Capital Management LLC acquired a new position in shares of LandBridge in the second quarter valued at approximately $1,158,000. Point72 DIFC Ltd purchased a new position in shares of LandBridge during the second quarter valued at approximately $497,000. M&R Capital Management Inc. acquired a new stake in LandBridge during the third quarter worth approximately $39,000. Finally, Requisite Capital Management LLC purchased a new stake in LandBridge in the 3rd quarter worth approximately $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.