LandBridge (NYSE:LB) Given New $79.00 Price Target at Barclays

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

A number of other equities research analysts have also weighed in on the stock. Piper Sandler raised their price objective on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.67.

LandBridge Trading Down 0.6 %

LB stock 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 quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average is $67.51 and its two-hundred day moving average is $49.32.

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, December 5th.

Hedge Funds Weigh In On LandBridge

A number of institutional investors have recently modified their holdings of LB. HighTower Advisors LLC increased its position in LandBridge by 370.2% in the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after acquiring an additional 54,048 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of LandBridge during the third quarter worth $383,000. FMR LLC lifted its holdings in shares of LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares during the period. International Assets Investment Management LLC acquired a new position in LandBridge in the 3rd quarter valued at $1,836,000. Finally, Horizon Kinetics Asset Management LLC increased its stake in LandBridge by 10.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after buying an additional 484,968 shares during the period.

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.