LandBridge (NYSE:LB) Stock Price Down 3.8% – What’s Next?

LandBridge Co LLC (NYSE:LB)’s stock price was down 3.8% during mid-day trading on Tuesday . The stock traded as low as $61.55 and last traded at $62.72. Approximately 68,828 shares were traded during trading, a decline of 83% from the average daily volume of 400,430 shares. The stock had previously closed at $65.21.

Wall Street Analysts Forecast Growth

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

LandBridge Trading Down 3.3 %

The business has a 50 day simple moving average of $63.83. The company has a market capitalization of $4.61 billion and a PE ratio of 17.71. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

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 given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, December 5th. LandBridge’s dividend payout ratio is presently 11.24%.

Hedge Funds Weigh In On LandBridge

Several hedge funds have recently modified their holdings of LB. nVerses Capital LLC bought a new position in shares of LandBridge in the third quarter valued at $31,000. M&R Capital Management Inc. bought a new position in shares of LandBridge in the 3rd quarter valued at about $39,000. BNP Paribas Financial Markets acquired a new position in shares of LandBridge during the 3rd quarter worth about $168,000. Axxcess Wealth Management LLC bought a new stake in shares of LandBridge in the 3rd quarter valued at about $218,000. Finally, Requisite Capital Management LLC acquired a new stake in LandBridge in the 3rd quarter valued at about $293,000.

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.