LandBridge (NYSE:LB) Stock Price Down 8.8% – What’s Next?

LandBridge Co LLC (NYSE:LB)’s stock price fell 8.8% during mid-day trading on Friday . The company traded as low as $69.62 and last traded at $69.54. 409,174 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 499,583 shares. The stock had previously closed at $76.26.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Raymond James upped their price objective on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group upped their price target on shares of LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler decreased their price target on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company set a $82.00 price objective on LandBridge and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, Barclays lifted their target price on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.44.

LandBridge Stock Down 8.8 %

The firm has a 50-day simple moving average of $70.41 and a 200 day simple moving average of $62.77. 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 company has a market capitalization of $5.09 billion and a PE ratio of 19.54.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently bought and sold shares of LB. HighTower Advisors LLC grew its stake in shares of LandBridge by 370.2% during the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after acquiring an additional 54,048 shares in the last quarter. FMR LLC grew its stake in LandBridge by 40.5% during the 3rd 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 in the last quarter. Tocqueville Asset Management L.P. increased its holdings in LandBridge by 7.6% during the 4th quarter. Tocqueville Asset Management L.P. now owns 88,190 shares of the company’s stock worth $5,697,000 after purchasing an additional 6,240 shares during the last quarter. Atlas Wealth Partners LLC purchased a new stake in LandBridge during the 4th quarter worth approximately $443,000. Finally, Schwartz Investment Counsel Inc. raised its position in shares of LandBridge by 1.0% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company’s stock valued at $27,556,000 after purchasing an additional 4,400 shares in 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.