LandBridge (NYSE:LB) Stock Price Crosses Below 200 Day Moving Average After Earnings Miss

LandBridge Company LLC (NYSE:LB) passed below its two hundred day moving average during trading on Wednesday following a weaker than expected earnings announcement. The stock has a two hundred day moving average of $73.66 and traded as low as $67.64. LandBridge shares last traded at $68.4660, with a volume of 1,404,186 shares.

The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). LandBridge had a net margin of 16.49% and a return on equity of 4.75%. The company had revenue of $70.89 million during the quarter, compared to analyst estimates of $65.94 million. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LB. Citigroup raised their price objective on shares of LandBridge from $66.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 26th. Raymond James Financial reiterated an “outperform” rating and issued a $91.00 target price on shares of LandBridge in a report on Monday, October 19th. Zacks Research cut shares of LandBridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Piper Sandler increased their price target on shares of LandBridge from $80.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Finally, Weiss Ratings downgraded shares of LandBridge from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, October 27th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.00.

Institutional Trading of LandBridge

Several hedge funds have recently modified their holdings of LB. Ashford Capital Management Inc. acquired a new stake in shares of LandBridge during the first quarter worth about $17,162,000. Schwartz Investment Counsel Inc. lifted its holdings in shares of LandBridge by 31.0% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 844,263 shares of the company’s stock valued at $68,529,000 after purchasing an additional 199,547 shares during the last quarter. Sei Investments Co. boosted its position in shares of LandBridge by 100.0% in the 1st quarter. Sei Investments Co. now owns 134,720 shares of the company’s stock valued at $9,302,000 after purchasing an additional 67,360 shares during the period. Bank of America Corp DE boosted its position in shares of LandBridge by 996.1% in the 1st quarter. Bank of America Corp DE now owns 64,933 shares of the company’s stock valued at $4,484,000 after purchasing an additional 59,009 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of LandBridge by 128.3% in the 1st quarter. Royal Bank of Canada now owns 44,985 shares of the company’s stock valued at $3,106,000 after purchasing an additional 25,284 shares during the period.

LandBridge Stock Down 13.3%

The business has a 50 day moving average of $83.60 and a 200-day moving average of $73.66. The stock has a market cap of $5.28 billion, a PE ratio of 60.59 and a beta of 0.19. The company has a current ratio of 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.64.

About LandBridge

LandBridge Company (NYSE: LB) is a landowner and infrastructure-focused real estate company serving the energy and industrial sectors. The company owns and manages large tracts of land in the Permian Basin, primarily in West Texas and southeastern New Mexico, one of the leading oil and natural gas producing regions in the United States.

LandBridge generates revenue by providing access to its properties and related resources. Its activities include surface-use agreements, easements, rights-of-way, water services, mineral and royalty interests, and accommodations for energy, logistics, and infrastructure projects.