LandBridge (NYSE:LB) Shares Down 3.8% – Time to Sell?

Shares of LandBridge Co LLC (NYSE:LB) traded down 3.8% during trading on Tuesday . The company traded as low as $61.55 and last traded at $62.72. 68,828 shares changed hands during trading, a decline of 83% from the average session volume of 400,430 shares. The stock had previously closed at $65.21.

Wall Street Analysts Forecast Growth

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

LandBridge Stock Performance

The company has a market cap of $4.73 billion and a P/E ratio of 18.15. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock’s fifty day simple moving average is $64.33.

LandBridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.62%. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Trading of LandBridge

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of LandBridge in the 2nd quarter worth $1,158,000. Ghisallo Capital Management LLC bought a new position in shares of LandBridge in the 2nd quarter valued at about $1,158,000. Point72 DIFC Ltd purchased a new position in LandBridge in the second quarter worth about $497,000. M&R Capital Management Inc. bought a new stake in LandBridge during the third quarter worth approximately $39,000. Finally, Requisite Capital Management LLC purchased a new stake in LandBridge during the third quarter valued at approximately $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.