Piper Sandler Issues Positive Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its price target boosted by Piper Sandler from $39.00 to $79.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently issued reports on LB. The Goldman Sachs Group boosted their price objective on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays boosted their price objective on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup upped their price target on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company upped their price target on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

LandBridge Price Performance

LandBridge stock opened at $79.12 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge has a 1 year low of $18.75 and a 1 year high of $80.50. The firm has a 50-day moving average of $55.38.

LandBridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%.

Institutional Investors Weigh In On LandBridge

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in LandBridge during the 2nd quarter valued at approximately $1,158,000. Ghisallo Capital Management LLC acquired a new position in LandBridge during the 2nd quarter valued at approximately $1,158,000. Point72 DIFC Ltd acquired a new position in LandBridge during the 2nd quarter valued at approximately $497,000. M&R Capital Management Inc. acquired a new position in LandBridge during the 3rd quarter valued at approximately $39,000. Finally, Requisite Capital Management LLC acquired a new position in LandBridge during the 3rd quarter valued at approximately $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.