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

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on LB shares. Piper Sandler upped their target price on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. Barclays boosted their target price 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 restated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Raymond James increased their price objective on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

LandBridge Price Performance

The stock has a market capitalization of $4.55 billion and a price-to-earnings ratio of 17.50. 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 has a fifty day moving average of $69.30 and a 200-day moving average of $58.45.

LandBridge Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.64%. LandBridge’s dividend payout ratio is presently 11.24%.

Hedge Funds Weigh In On LandBridge

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC increased its position in shares of LandBridge by 370.2% in the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after buying an additional 54,048 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of LandBridge during the 3rd quarter worth approximately $383,000. FMR LLC boosted its stake 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 last quarter. Horizon Kinetics Asset Management LLC boosted its stake in shares of LandBridge by 10.3% during the third 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. Finally, Atlas Wealth Partners LLC purchased a new position in shares of LandBridge during the fourth quarter valued at approximately $443,000.

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.