LandBridge (NYSE:LB) Shares Down 4.9% – Here’s Why

LandBridge Co LLC (NYSE:LB) fell 4.9% on Friday . The company traded as low as $78.20 and last traded at $76.50. 102,048 shares changed hands during trading, a decline of 81% from the average session volume of 531,965 shares. The stock had previously closed at $80.47.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Piper Sandler raised their price objective on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.67.

LandBridge Stock Down 4.2 %

The stock has a fifty day simple moving average of $68.10 and a two-hundred day simple moving average of $50.62. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge (NYSE:LB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). The business had revenue of $28.49 million during the quarter, compared to analysts’ expectations of $35.50 million. On average, research analysts anticipate that LandBridge Co LLC will post 0.99 earnings per share for the current year.

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 was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.52%.

Institutional Investors Weigh In On LandBridge

A number of hedge funds and other institutional investors have recently bought and sold shares of LB. Cortland Associates Inc. MO purchased a new position in LandBridge in the 4th quarter worth approximately $9,727,000. KBC Group NV purchased a new stake in LandBridge during the fourth quarter valued at about $72,000. Segment Wealth Management LLC bought a new stake in LandBridge during the fourth quarter worth about $323,000. Mad River Investors boosted its holdings in shares of LandBridge by 0.4% in the 4th quarter. Mad River Investors now owns 233,452 shares of the company’s stock worth $15,081,000 after purchasing an additional 902 shares in the last quarter. Finally, Annex Advisory Services LLC bought a new position in shares of LandBridge during the 4th quarter valued at about $1,165,000.

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.