LandBridge (NYSE:LB) Trading Down 4.9% – Here’s What Happened

LandBridge Co LLC (NYSE:LB)’s share price traded down 4.9% during trading on Friday . The company traded as low as $78.20 and last traded at $76.50. 102,048 shares were traded during mid-day trading, a decline of 81% from the average session volume of 531,965 shares. The stock had previously closed at $80.47.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LB shares. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Piper Sandler increased their target price on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Barclays boosted their price target on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a 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 given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.67.

LandBridge Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $68.10 and its 200 day moving average price is $50.62.

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). The firm had revenue of $28.49 million for the quarter, compared to analysts’ expectations of $35.50 million. As a group, equities analysts predict that LandBridge Co LLC will post 0.99 earnings per share for the current fiscal year.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.52%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its holdings in LandBridge by 370.2% in the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after acquiring an additional 54,048 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of LandBridge in the third quarter worth approximately $383,000. FMR LLC increased its stake in shares of LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of LandBridge during the 3rd quarter valued at $1,836,000. Finally, Horizon Kinetics Asset Management LLC lifted its stake in shares of LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after buying an additional 484,968 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.