LandBridge (NYSE:LB) Shares Gap Down – What’s Next?

LandBridge Company LLC (NYSE:LB) shares gapped down before the market opened on Thursday . The stock had previously closed at $81.51, but opened at $78.00. LandBridge shares last traded at $75.47, with a volume of 50,694 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on LB. Raymond James Financial decreased their target price on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a report on Tuesday, October 14th. Piper Sandler cut their price target on LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Barclays dropped their price target on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Finally, Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.17.

LandBridge Stock Performance

The stock has a 50-day moving average price of $56.98 and a 200 day moving average price of $62.21. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. The firm has a market cap of $5.88 billion, a PE ratio of 150.82 and a beta of 0.15.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.40 annualized dividend and a yield of 0.5%. LandBridge’s dividend payout ratio is currently 78.43%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its position in shares of LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after buying an additional 209 shares during the period. US Bancorp DE purchased a new stake in LandBridge during the 1st quarter worth $28,000. Uniplan Investment Counsel Inc. acquired a new position in LandBridge in the 1st quarter worth $30,000. Banque Transatlantique SA purchased a new position in LandBridge in the 1st quarter valued at about $34,000. Finally, Deutsche Bank AG acquired a new stake in shares of LandBridge during the first quarter valued at about $55,000.

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.