LandBridge (NYSE:LB) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of LandBridge Co LLC (NYSE:LB) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $64.83. LandBridge shares last traded at $64.80, with a volume of 297,550 shares trading hands.

Analysts Set New Price Targets

LB has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th. Piper Sandler lifted their target price on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Barclays raised their target price on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Citigroup increased their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group boosted their price target on LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

LandBridge Stock Up 1.7 %

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 $63.61.

LandBridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued 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

Several institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in LandBridge in the third quarter valued at approximately $31,000. M&R Capital Management Inc. bought a new stake in LandBridge during the third quarter worth about $39,000. BNP Paribas Financial Markets bought a new stake in shares of LandBridge in the 3rd quarter worth approximately $168,000. Axxcess Wealth Management LLC purchased a new stake in shares of LandBridge in the third quarter worth $218,000. Finally, Requisite Capital Management LLC purchased a new stake in LandBridge during the 3rd quarter valued at about $293,000.

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.