LandBridge (NYSE:LB) Stock Price Down 5% – Time to Sell?

LandBridge Co LLC (NYSE:LB) shares fell 5% on Thursday . The company traded as low as $59.06 and last traded at $62.12. 236,751 shares changed hands during trading, a decline of 51% from the average session volume of 478,984 shares. The stock had previously closed at $65.40.

Analyst Ratings Changes

LB has been the subject of several research reports. Barclays boosted 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. The Goldman Sachs Group restated a “buy” rating and set a $71.00 price objective on shares of LandBridge in a report on Friday, January 3rd. Piper Sandler lowered their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Friday. Raymond James upped their target price on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.33.

LandBridge Stock Up 9.9 %

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 stock has a market capitalization of $4.95 billion and a PE ratio of 18.99. The business has a 50 day moving average of $69.25 and a two-hundred day moving average of $58.47.

LandBridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is currently 11.24%.

Institutional Investors Weigh In On LandBridge

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after buying an additional 686,070 shares in the last quarter. Hood River Capital Management LLC acquired a new position in LandBridge during the 4th quarter valued at about $41,431,000. Vanguard Group Inc. acquired a new position in LandBridge during the 4th quarter valued at about $38,480,000. First Manhattan CO. LLC. increased its position in LandBridge by 23.5% during the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock valued at $175,292,000 after buying an additional 516,380 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its position in LandBridge by 10.3% during the 3rd 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.

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.