LandBridge (NYSE:LB) Trading Up 4.3% – Still a Buy?

14 Nov 2024, 20:02 by Scott Moore · The Cerbat Gem

LandBridge Co LLC (NYSE:LB – Get Free Report) shares rose 4.3% on Tuesday . The stock traded as high as $71.08 and last traded at $70.04. Approximately 251,354 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 357,247 shares. The stock had previously closed at $67.18.

Analyst Ratings Changes

LB has been the topic of a number of recent research reports. Pickering Energy Partners initiated coverage on LandBridge in a report on Tuesday, July 23rd. They issued an “outperform” rating on the stock. Wells Fargo & Company increased their price target on LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Janney Montgomery Scott began coverage on shares of LandBridge in a research note on Thursday, July 25th. They issued a “buy” rating and a $36.00 price objective for the company. Johnson Rice began coverage on LandBridge in a research note on Wednesday, July 24th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Barclays lifted their price target on LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, LandBridge currently has a consensus rating of “Moderate Buy” and an average price target of $36.57.

Check Out Our Latest Research Report on LB

LandBridge Stock Performance

The company has a market cap of $4.85 billion and a P/E ratio of 18.42. The firm’s 50-day moving average price is $48.52.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Thursday, December 5th.

Institutional Trading of LandBridge

Institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in shares of LandBridge in the third quarter worth approximately $31,000. M&R Capital Management Inc. bought a new stake in LandBridge during the third quarter valued at about $39,000. BNP Paribas Financial Markets purchased a new position in shares of LandBridge in the third quarter valued at about $168,000. Axxcess Wealth Management LLC bought a new position in shares of LandBridge in the third quarter worth about $218,000. Finally, Requisite Capital Management LLC bought a new stake in LandBridge during the 3rd quarter valued at approximately $293,000.

LandBridge Company Profile

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