LandBridge (NYSE:LB) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of LandBridge (NYSE:LB) from a strong sell rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other brokerages also recently weighed in on LB. The Goldman Sachs Group set a $84.00 target price on LandBridge in a report on Thursday, May 28th. Wells Fargo & Company boosted their price target on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Piper Sandler restated a “neutral” rating and set a $66.00 price target (up from $65.00) on shares of LandBridge in a report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research report on Wednesday, April 8th. Finally, Barclays lifted their price objective on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, LandBridge presently has an average rating of “Hold” and an average price target of $76.17.

LandBridge Stock Performance

Shares of LB opened at $63.84 on Monday. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $4.92 billion, a P/E ratio of 65.81 and a beta of 0.08. The firm’s fifty day simple moving average is $69.11 and its two-hundred day simple moving average is $64.30. LandBridge has a 12 month low of $43.75 and a 12 month high of $85.60.

LandBridge (NYSE:LB) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.44). The business had revenue of $51.01 million during the quarter, compared to the consensus estimate of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share. As a group, analysts predict that LandBridge will post 1.48 EPS for the current year.

LandBridge announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were paid a $0.12 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. LandBridge’s dividend payout ratio (DPR) is currently 49.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Comerica Bank grew its holdings in shares of LandBridge by 13.6% during the third quarter. Comerica Bank now owns 1,369 shares of the company’s stock valued at $73,000 after buying an additional 164 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of LandBridge by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock worth $1,958,000 after acquiring an additional 230 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of LandBridge by 12.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock worth $183,000 after acquiring an additional 301 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in LandBridge by 564.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after acquiring an additional 440 shares in the last quarter.

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.