LandBridge (NYSE:LB) Shares Down 4.3% – Should You Sell?

LandBridge Co LLC (NYSE:LB)’s share price was down 4.3% on Friday . The stock traded as low as $64.76 and last traded at $65.69. Approximately 164,055 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 394,160 shares. The stock had previously closed at $68.65.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LB shares. Barclays increased their price target on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group increased 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. Citigroup increased their price target on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Piper Sandler increased 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, November 25th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

LandBridge Stock 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 company has a market capitalization of $4.69 billion and a PE ratio of 18.01. The company has a 50-day moving average of $59.85.

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 dividend of $0.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.62%.

Institutional Investors Weigh In On LandBridge

A number of hedge funds have recently added to or reduced their stakes in LB. FMR LLC lifted its holdings 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 buying an additional 686,070 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its holdings in LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after buying an additional 484,968 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in LandBridge by 617.7% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after buying an additional 363,345 shares in the last quarter. Mad River Investors acquired a new stake in shares of LandBridge in the 3rd quarter valued at $9,097,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of LandBridge in the 3rd quarter valued at $4,302,000.

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.