LandBridge (NYSE:LB) Reaches New 12-Month High – Should You Buy?

LandBridge Company LLC (NYSE:LB) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $88.00 and last traded at $88.8590, with a volume of 35283 shares trading hands. The stock had previously closed at $82.20.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LB shares. The Goldman Sachs Group set a $84.00 price objective on shares of LandBridge in a report on Thursday, May 28th. Weiss Ratings raised LandBridge from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Piper Sandler increased their target price on LandBridge from $66.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Finally, Zacks Research upgraded LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.20.

LandBridge Price Performance

The firm has a market capitalization of $6.93 billion, a P/E ratio of 79.60 and a beta of 0.06. The stock’s fifty day simple moving average is $74.91 and its 200 day simple moving average is $70.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, August 27th. LandBridge’s payout ratio is 42.48%.

Institutional Investors Weigh In On LandBridge

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in LandBridge by 564.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after purchasing an additional 440 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in LandBridge in the 4th quarter worth $33,000. Quattro Advisors LLC purchased a new position in shares of LandBridge in the fourth quarter worth about $36,000. Finally, Galaxy Group Investments LLC purchased a new position in LandBridge during the 4th quarter worth approximately $36,000.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.