LandBridge (NYSE:LB) Shares Down 4.9% – What’s Next?

LandBridge Co LLC (NYSE:LB)’s stock price was down 4.9% on Friday . The company traded as low as $78.20 and last traded at $76.50. Approximately 102,048 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 531,965 shares. The stock had previously closed at $80.47.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LB. Royal Bank of Canada restated an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. Barclays boosted their price target on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Finally, Piper Sandler boosted their target price on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. 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 company’s stock. According to data from MarketBeat.com, LandBridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.67.

LandBridge Stock Performance

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $68.55 and its two-hundred day moving average price is $51.34.

LandBridge (NYSE:LB) last issued its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts predict that LandBridge Co LLC will post 0.99 EPS for the current year.

LandBridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Thursday, December 5th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Horizon Kinetics Asset Management LLC raised its stake in shares of LandBridge by 10.3% in 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 in the last quarter. FMR LLC raised its position in shares of LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after purchasing an additional 686,070 shares during the period. Schwartz Investment Counsel Inc. lifted its stake in shares of LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after buying an additional 363,345 shares during the last quarter. Mad River Investors boosted its holdings in shares of LandBridge by 0.4% during the 4th quarter. Mad River Investors now owns 233,452 shares of the company’s stock worth $15,081,000 after buying an additional 902 shares during the period. Finally, Raymond James & Associates grew its stake in LandBridge by 9.2% in the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock valued at $8,972,000 after buying an additional 19,350 shares during 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.