LandBridge (NYSE:LB) Shares Down 6.6% – Time to Sell?

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

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Raymond James lifted their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. 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. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Barclays raised 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, The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, LandBridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

LandBridge Stock Performance

The firm’s 50-day moving average price is $68.08 and its two-hundred day moving average price is $56.26. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

Institutional Trading of LandBridge

Several hedge funds have recently made changes to their positions in LB. FMR LLC lifted its position in shares of 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 purchasing an additional 686,070 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of LandBridge during the fourth quarter worth approximately $41,431,000. Vanguard Group Inc. purchased a new stake in shares of LandBridge during the fourth quarter worth approximately $38,480,000. First Manhattan CO. LLC. increased its stake in shares of LandBridge by 23.5% during the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock worth $175,292,000 after buying an additional 516,380 shares during the period. Finally, Horizon Kinetics Asset Management LLC increased its stake in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after buying an additional 484,968 shares during the period.

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.