LandBridge (NYSE:LB) Shares Down 9% – Time to Sell?

LandBridge Co LLC (NYSE:LB)’s stock price was down 9% during mid-day trading on Monday . The company traded as low as $66.55 and last traded at $67.07. Approximately 314,654 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 554,795 shares. The stock had previously closed at $73.70.

Analyst Upgrades and Downgrades

LB has been the subject of several research reports. Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Piper Sandler increased their price target on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. Finally, Barclays increased their price target on LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, LandBridge has a consensus rating of “Moderate Buy” and an average target price of $43.11.

LandBridge Price Performance

The business has a fifty day moving average of $67.14 and a 200-day moving average of $48.60. The firm has a market cap of $5.41 billion and a PE ratio of 20.78. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. LandBridge’s payout ratio is currently 11.24%.

Institutional Trading of LandBridge

Several institutional investors and hedge funds have recently modified their holdings of the business. Sandbox Financial Partners LLC purchased a new stake in shares of LandBridge in the 4th quarter valued at about $637,000. HighTower Advisors LLC raised its holdings in shares of LandBridge by 370.2% in the 3rd 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 in the last quarter. Centiva Capital LP raised its holdings in shares of LandBridge by 4.7% during the 3rd quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock valued at $373,000 after buying an additional 427 shares in the last quarter. Flow Traders U.S. LLC purchased a new position in shares of LandBridge during the 3rd quarter valued at about $600,000. Finally, Verition Fund Management LLC purchased a new position in shares of LandBridge during the 3rd quarter valued at about $536,000.

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.