LandBridge (NYSE:LB) Trading Down 6.4% – What’s Next?

LandBridge Co LLC (NYSE:LB) shares traded down 6.4% during mid-day trading on Thursday . The stock traded as low as $64.50 and last traded at $63.72. 528,438 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 690,669 shares. The stock had previously closed at $68.10.

Analyst Ratings Changes

Several analysts have recently commented on LB shares. Royal Bank of Canada restated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Piper Sandler raised their price objective on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Raymond James upped their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Finally, Barclays upped their price objective on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.33.

LandBridge Stock Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50 day moving average of $68.24 and a 200 day moving average of $52.42.

LandBridge (NYSE:LB) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.24). The firm had revenue of $28.49 million for the quarter, compared to the consensus estimate of $35.50 million. On average, analysts expect that LandBridge Co LLC will post 0.99 EPS for the current year.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, December 5th.

Hedge Funds Weigh In On LandBridge

A number of large investors have recently bought and sold shares of LB. HighTower Advisors LLC increased its position in shares of LandBridge by 370.2% in the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after acquiring an additional 54,048 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of LandBridge during the 3rd quarter worth approximately $383,000. FMR LLC raised its stake in shares of LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of LandBridge in the 3rd quarter valued at approximately $1,836,000. Finally, Horizon Kinetics Asset Management LLC grew its stake in shares of LandBridge by 10.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after buying an additional 484,968 shares in the last quarter.

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.