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

Shares of LandBridge Co LLC (NYSE:LB) fell 6.4% during trading on Thursday . The stock traded as low as $64.50 and last traded at $63.72. 528,438 shares traded 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 research analysts have issued reports on the company. Raymond James increased their price objective on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday. Piper Sandler lifted their price target on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of LandBridge in a report on Friday, January 3rd. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Barclays increased their price target on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.33.

LandBridge Price Performance

The stock has a market cap of $4.77 billion and a price-to-earnings ratio of 18.33. 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 simple moving average of $68.53 and a two-hundred day simple moving average of $52.09.

LandBridge (NYSE:LB) last issued its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). The company had revenue of $28.49 million for the quarter, compared to analyst estimates of $35.50 million. As a group, equities research analysts forecast that LandBridge Co LLC will post 0.99 EPS for the current year.

LandBridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Thursday, December 5th. LandBridge’s payout ratio is currently 11.24%.

Institutional Trading of LandBridge

Several institutional investors and hedge funds have recently bought and sold shares of LB. FMR LLC boosted 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 acquiring an additional 686,070 shares during the period. Horizon Kinetics Asset Management LLC lifted its holdings 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 purchasing an additional 484,968 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its position in LandBridge by 617.7% during the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after purchasing an additional 363,345 shares during the period. Mad River Investors acquired a new position in shares of LandBridge in the third quarter valued at $9,097,000. Finally, Cortland Associates Inc. MO acquired a new position in shares of LandBridge in the fourth quarter valued at $9,727,000.

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.