LandBridge (NYSE:LB) Stock Price Down 3.8% – Should You Sell?

Shares of LandBridge Co LLC (NYSE:LB) were down 3.8% on Tuesday . The company traded as low as $61.55 and last traded at $62.72. Approximately 68,828 shares traded hands 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 Analyst Weigh In

Several brokerages have issued reports on LB. The Goldman Sachs Group raised their price target on LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Piper Sandler increased 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. Barclays lifted 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. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Finally, Citigroup raised their price objective on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

LandBridge Trading Down 3.3 %

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

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.63%. LandBridge’s dividend payout ratio is 11.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after acquiring an additional 686,070 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in shares of LandBridge by 10.3% during the third 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. Schwartz Investment Counsel Inc. increased its stake in shares of LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after buying an additional 363,345 shares during the period. Mad River Investors bought a new position in LandBridge in the 3rd quarter valued at approximately $9,097,000. Finally, Moors & Cabot Inc. acquired a new stake in LandBridge during the 3rd quarter worth approximately $4,302,000.

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.