LandBridge (NYSE:LB) Trading Down 5% – What’s Next?

LandBridge Co LLC (NYSE:LB) traded down 5% during mid-day trading on Thursday . The stock traded as low as $59.06 and last traded at $62.12. 236,751 shares were traded 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 Analysts Forecast Growth

Several research firms have recently commented on LB. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Piper Sandler boosted their target price on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Raymond James lifted their price target on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays lifted their price target on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.33.

LandBridge Trading Down 4.8 %

The firm has a market capitalization of $4.55 billion and a P/E ratio of 17.50. The business’s 50-day moving average is $69.30 and its 200 day moving average is $58.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, March 6th. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Investors Weigh In On LandBridge

A number of large investors have recently added to or reduced their stakes in the stock. Comerica Bank grew its stake in LandBridge by 29.7% during the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock worth $75,000 after buying an additional 265 shares in the last quarter. Centiva Capital LP lifted its holdings in shares of LandBridge by 4.7% during the 3rd quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock worth $373,000 after acquiring an additional 427 shares during the period. Fairway Wealth LLC acquired a new stake in shares of LandBridge during the 4th quarter worth approximately $50,000. Generali Investments Management Co LLC bought a new position in LandBridge in the fourth quarter valued at approximately $52,000. Finally, Mad River Investors lifted its stake in LandBridge by 0.4% during the fourth quarter. Mad River Investors now owns 233,452 shares of the company’s stock worth $15,081,000 after purchasing an additional 902 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.