LandBridge (NYSE:LB) Reaches New 12-Month High – Time to Buy?

LandBridge Co LLC (NYSE:LB)’s share price reached a new 52-week high on Wednesday . The company traded as high as $82.76 and last traded at $82.52, with a volume of 1605123 shares traded. The stock had previously closed at $74.75.

Analyst Ratings Changes

A number of research firms recently issued reports on LB. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Piper Sandler lifted their price objective on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Barclays upped their target price on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. One research 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’s stock. Based on data from MarketBeat.com, LandBridge has a consensus rating of “Moderate Buy” and a consensus target price of $47.67.

LandBridge Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50-day moving average price is $68.10 and its two-hundred day moving average price is $50.62. The firm has a market cap of $5.85 billion and a PE ratio of 22.47.

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 for the quarter, compared to the consensus estimate of $35.50 million. As a group, equities research analysts expect that LandBridge Co LLC will post 0.99 EPS for the current fiscal year.

LandBridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given 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 dividend yield of 0.50%. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On LandBridge

Institutional investors have recently added to or reduced their stakes in the stock. Cortland Associates Inc. MO acquired a new position in shares of LandBridge during the 4th quarter worth $9,727,000. KBC Group NV purchased a new stake in LandBridge during the fourth quarter worth about $72,000. Segment Wealth Management LLC acquired a new position in LandBridge during the fourth quarter worth about $323,000. Mad River Investors increased its holdings in LandBridge by 0.4% in the fourth quarter. Mad River Investors now owns 233,452 shares of the company’s stock valued at $15,081,000 after buying an additional 902 shares in the last quarter. Finally, Annex Advisory Services LLC acquired a new stake in shares of LandBridge during the 4th quarter valued at approximately $1,165,000.

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.