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

LandBridge (NYSE:LB) had its target price boosted by Raymond James from $80.00 to $85.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also weighed in on LB. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. Barclays raised their price objective on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 target price on shares of LandBridge in a research report on Friday, January 3rd. Finally, Piper Sandler lifted their price target on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, LandBridge presently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

LandBridge Stock Down 0.2 %

LandBridge stock opened at $64.08 on Tuesday. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $84.70. The company’s 50-day moving average is $68.50 and its 200-day moving average is $51.98. 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 (NYSE:LB) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.24). The business had revenue of $28.49 million during the quarter, compared to analysts’ expectations of $35.50 million. On average, analysts anticipate that LandBridge will post 0.99 EPS for the current fiscal year.

LandBridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.62%.

Institutional Trading of LandBridge

Institutional investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in LandBridge in the third quarter valued at about $31,000. M&R Capital Management Inc. acquired a new position in shares of LandBridge in the 3rd quarter valued at approximately $39,000. KBC Group NV acquired a new position in shares of LandBridge in the 4th quarter valued at approximately $72,000. BNP Paribas Financial Markets bought a new stake in shares of LandBridge during the 3rd quarter worth approximately $168,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of LandBridge during the 3rd quarter worth approximately $218,000.

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.