LandBridge (NYSE:LB) Stock Price Down 6.4% – Time to Sell?

Shares of LandBridge Co LLC (NYSE:LB) fell 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 trading, a decline of 23% from the average session volume of 690,669 shares. The stock had previously closed at $68.10.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LB shares. Piper Sandler upped their target price on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. 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 note on Friday, January 17th. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Raymond James lifted their price target on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price objective 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, LandBridge currently has a consensus rating of “Moderate Buy” and an average price target of $53.33.

LandBridge Stock Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a fifty day moving average price of $68.53 and a two-hundred day moving average price of $52.09. The company has a market cap of $4.77 billion and a P/E ratio of 18.33.

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (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 the consensus estimate of $35.50 million. On average, equities analysts forecast that LandBridge Co LLC will post 0.99 earnings per share for the current fiscal year.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given 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 dividend yield of 0.61%. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Institutional Investors Weigh In On LandBridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LB. FMR LLC raised its holdings in shares of LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after acquiring an additional 686,070 shares during the period. Horizon Kinetics Asset Management LLC increased its holdings in shares of 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 acquiring an additional 484,968 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its holdings in LandBridge by 617.7% during the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after acquiring an additional 363,345 shares during the period. Mad River Investors bought a new position in shares of LandBridge in the third quarter worth about $9,097,000. Finally, Cortland Associates Inc. MO acquired a new position in shares of LandBridge during the fourth quarter worth approximately $9,727,000.

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.