LandBridge (NYSE:LB) Stock Price Down 5% – What’s Next?

LandBridge Co LLC (NYSE:LB)’s share price dropped 5% during trading on Thursday . The stock traded as low as $59.06 and last traded at $62.12. Approximately 236,751 shares were traded during trading, a decline of 51% from the average daily volume of 478,984 shares. The stock had previously closed at $65.40.

Wall Street Analyst Weigh In

LB has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Barclays raised their target price on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Raymond James raised their target price on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Piper Sandler dropped their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, LandBridge presently has an average rating of “Moderate Buy” and a consensus price target of $52.33.

LandBridge Stock Performance

The firm has a market cap of $4.95 billion and a PE ratio of 18.99. The firm has a 50-day moving average price of $69.25 and a two-hundred day moving average price of $58.47. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On LandBridge

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $50,000. Generali Investments Management Co LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $52,000. KBC Group NV acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $72,000. Comerica Bank increased its holdings in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after purchasing an additional 265 shares during the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $110,000.

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.