LandBridge (NYSE:LB) Shares Down 6.6% – What’s Next?

LandBridge Co LLC (NYSE:LB)’s stock price was down 6.6% on Friday . The stock traded as low as $68.92 and last traded at $67.61. Approximately 81,629 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 668,360 shares. The stock had previously closed at $72.40.

Analyst Upgrades and Downgrades

LB has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. Raymond James upped their target price on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Piper Sandler upped their price objective on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, Barclays raised their price objective on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

LandBridge Price Performance

The business has a fifty day moving average price of $68.19 and a 200-day moving average price of $56.68. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.61%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in shares of LandBridge by 370.2% in the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after acquiring an additional 54,048 shares in the last quarter. OneDigital Investment Advisors LLC bought a new stake in LandBridge in the 3rd quarter valued at about $383,000. FMR LLC grew its position in shares of LandBridge by 40.5% during the 3rd 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 position in shares of LandBridge during the third quarter worth approximately $1,836,000. Finally, Horizon Kinetics Asset Management LLC raised its position in shares of LandBridge by 10.3% in the third 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.

LandBridge Company Profile

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.