LandBridge (NYSE:LB) Stock Price Down 6.6% – Here’s Why

LandBridge Co LLC (NYSE:LB)’s share price was down 6.6% on Friday . The company traded as low as $68.92 and last traded at $67.61. Approximately 81,629 shares were traded during trading, a decline of 88% from the average daily volume of 668,360 shares. The stock had previously closed at $72.40.

Wall Street Analyst Weigh In

Several research analysts have commented on LB shares. Piper Sandler boosted their price objective on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Raymond James raised their price objective on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Barclays boosted their target price on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

LandBridge Trading Down 9.3 %

The business’s fifty day simple moving average is $68.19 and its 200-day simple moving average is $56.68. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.61%.

Institutional Investors Weigh In On LandBridge

Large investors have recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in LandBridge during the fourth quarter valued at about $50,000. Generali Investments Management Co LLC bought a new stake in shares of LandBridge in the 4th quarter valued at about $52,000. KBC Group NV purchased a new stake in LandBridge during the 4th quarter valued at about $72,000. Comerica Bank grew its position in LandBridge by 29.7% during the 4th quarter. Comerica Bank now owns 1,158 shares of the company’s stock worth $75,000 after acquiring an additional 265 shares during the last quarter. Finally, Blue Trust Inc. purchased a new position in LandBridge in the 4th quarter worth approximately $110,000.

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.