LandBridge (NYSE:LB) Posts Earnings Results, Misses Estimates By $0.44 EPS

LandBridge (NYSE:LB) posted its quarterly earnings results on Wednesday. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44), Zacks reports. LandBridge had a return on equity of 5.63% and a net margin of 12.19%.

LandBridge Price Performance

Shares of NYSE LB traded down $4.39 during trading hours on Wednesday, hitting $81.16. 434,665 shares of the stock were exchanged, compared to its average volume of 539,561. The company’s fifty day simple moving average is $56.42 and its two-hundred day simple moving average is $62.08. The company has a market cap of $6.21 billion, a PE ratio of 159.13 and a beta of 0.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.26 and a current ratio of 4.26. LandBridge has a 1-year low of $48.55 and a 1-year high of $87.60.

Analyst Ratings Changes

A number of equities research analysts have commented on LB shares. Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday. Barclays reduced their price objective on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Wells Fargo & Company lowered their target price on shares of LandBridge from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Raymond James Financial dropped their target price on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $65.17.

Hedge Funds Weigh In On LandBridge

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP acquired a new position in LandBridge in the third quarter valued at $223,000. Vanguard Group Inc. lifted its position in shares of LandBridge by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after buying an additional 68,343 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of LandBridge by 12.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock worth $183,000 after buying an additional 301 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in LandBridge in the second quarter worth $238,000. Finally, FORA Capital LLC bought a new position in shares of LandBridge in the second quarter worth $301,000.

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.