LandBridge (NYSE:LB) Trading Down 3.7% – Time to Sell?

LandBridge Co LLC (NYSE:LB)’s stock price dropped 3.7% on Friday . The company traded as low as $76.18 and last traded at $76.21. Approximately 231,177 shares traded hands during trading, a decline of 40% from the average daily volume of 388,203 shares. The stock had previously closed at $79.12.

Wall Street Analysts Forecast Growth

LB has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Piper Sandler upped their price target on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday. The Goldman Sachs Group upped their price target on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays upped their price target 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. Finally, Citigroup upped their price target on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.88.

LandBridge Price Performance

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average price is $56.19.

LandBridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, December 5th.

Hedge Funds Weigh In On LandBridge

A number of institutional investors have recently bought and sold shares of LB. OneDigital Investment Advisors LLC purchased a new position in shares of LandBridge during the 3rd quarter valued at approximately $383,000. International Assets Investment Management LLC purchased a new position in shares of LandBridge during the 3rd quarter valued at approximately $1,836,000. Seven Grand Managers LLC increased its holdings in shares of LandBridge by 14.3% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock valued at $3,912,000 after purchasing an additional 12,500 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in shares of LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after purchasing an additional 484,968 shares in the last quarter. Finally, Ghisallo Capital Management LLC purchased a new position in shares of LandBridge during the 2nd quarter valued at approximately $1,158,000.

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.