LandBridge (NYSE:LB) Lowered to “Neutral” Rating by Janney Montgomery Scott

Janney Montgomery Scott lowered shares of LandBridge (NYSE:LB) from a buy rating to a neutral rating in a report released on Thursday, Marketbeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of LandBridge from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Raymond James Financial reduced their price target on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Barclays lowered their price target on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Piper Sandler cut their target price on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.17.

LandBridge Stock Up 1.9%

Shares of NYSE:LB traded up $1.36 on Thursday, reaching $74.47. The company had a trading volume of 372,199 shares, compared to its average volume of 373,911. The firm has a market capitalization of $5.70 billion, a PE ratio of 146.02 and a beta of 0.15. LandBridge has a 52-week low of $48.55 and a 52-week high of $87.60. The company has a current ratio of 4.15, a quick ratio of 4.26 and a debt-to-equity ratio of 0.52. The firm’s 50 day simple moving average is $57.79 and its 200-day simple moving average is $62.29.

LandBridge (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The business had revenue of $50.83 million during the quarter, compared to analyst estimates of $49.13 million. LandBridge had a return on equity of 4.63% and a net margin of 13.72%. As a group, analysts expect that LandBridge will post 0.99 earnings per share for the current fiscal year.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, December 4th. LandBridge’s dividend payout ratio (DPR) is 78.43%.

Hedge Funds Weigh In On LandBridge

Several institutional investors have recently bought and sold shares of the company. Atlas Wealth Partners LLC lifted its position in shares of LandBridge by 69.7% during the first quarter. Atlas Wealth Partners LLC now owns 11,645 shares of the company’s stock worth $838,000 after purchasing an additional 4,781 shares in the last quarter. Sigma Planning Corp purchased a new position in LandBridge in the 1st quarter valued at about $362,000. Entropy Technologies LP acquired a new stake in LandBridge during the 1st quarter valued at approximately $554,000. Amundi acquired a new position in shares of LandBridge in the 1st quarter valued at approximately $5,763,000. Finally, Stephens Inc. AR acquired a new stake in shares of LandBridge during the first quarter worth approximately $681,000.

About LandBridge

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.