LandBridge (NYSE:LB) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of LandBridge Co LLC (NYSE:LB) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $64.83. LandBridge shares last traded at $64.80, with a volume of 297,550 shares.

Analyst Upgrades and Downgrades

LB has been the topic of several recent analyst reports. Barclays increased their price objective on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup lifted their price target on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. The Goldman Sachs Group increased their price objective on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Finally, Piper Sandler increased their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.00.

LandBridge Stock Performance

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 firm’s 50-day simple moving average is $63.41.

LandBridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, December 5th.

Institutional Investors Weigh In On LandBridge

Large investors have recently bought and sold shares of the business. FMR LLC lifted its stake in shares of LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after purchasing an additional 686,070 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its position in LandBridge by 10.3% in 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 last quarter. Schwartz Investment Counsel Inc. lifted its position in LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after buying an additional 363,345 shares during the last quarter. Mad River Investors purchased a new position in LandBridge during the third quarter worth $9,097,000. Finally, Moors & Cabot Inc. bought a new position in LandBridge during the third quarter valued at $4,302,000.

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.