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

LandBridge Co LLC (NYSE:LB)’s stock price dropped 8.8% 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.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James boosted their target price on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. The Goldman Sachs Group raised their target price on shares of LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays boosted their price target on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. Finally, Piper Sandler reduced their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One equities research 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. According to data from MarketBeat, LandBridge currently has an average rating of “Moderate Buy” and an average target price of $59.44.

LandBridge Price Performance

The firm has a market capitalization of $5.09 billion and a PE ratio of 19.54. 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 fifty day moving average price of $70.51 and a 200-day moving average price of $62.32.

LandBridge Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in 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. FMR LLC boosted its position in shares of LandBridge by 40.5% in 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. Tocqueville Asset Management L.P. grew its stake in LandBridge by 7.6% during the 4th quarter. Tocqueville Asset Management L.P. now owns 88,190 shares of the company’s stock worth $5,697,000 after buying an additional 6,240 shares during the last quarter. Atlas Wealth Partners LLC purchased a new stake in LandBridge in the fourth quarter valued at about $443,000. Finally, Schwartz Investment Counsel Inc. boosted its holdings in LandBridge by 1.0% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company’s stock worth $27,556,000 after acquiring an additional 4,400 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.