LandBridge (NYSE:LB) Trading Down 8.8% – Should You Sell?

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Raymond James increased their target price on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays lifted their price objective on shares of LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, March 21st. Piper Sandler dropped their target price 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. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group increased their price objective on shares of LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.44.

LandBridge Price Performance

The business’s 50 day simple moving average is $70.41 and its 200-day simple moving average is $62.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $5.09 billion and a price-to-earnings ratio of 19.54.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LB. Horizon Kinetics Asset Management LLC boosted its stake in LandBridge by 4.0% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company’s stock valued at $348,793,000 after purchasing an additional 208,408 shares in the last quarter. First Manhattan CO. LLC. boosted its stake in LandBridge by 23.5% during the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock valued at $175,292,000 after buying an additional 516,380 shares in the last quarter. FMR LLC grew its holdings in LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after acquiring an additional 686,070 shares during the period. Hood River Capital Management LLC acquired a new position in LandBridge during the fourth quarter worth about $41,431,000. Finally, Vanguard Group Inc. bought a new stake in LandBridge in the fourth quarter worth about $38,480,000.

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.