LandBridge (NYSE:LB) Trading Down 6.6% - Here's Why

LandBridge Co LLC (NYSE:LB - Get Free Report)'s stock price traded down 6.6% during trading on Friday . The company traded as low as $68.92 and last traded at $67.61. 81,629 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 668,360 shares. The stock had previously closed at $72.40.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Raymond James raised their price target on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Piper Sandler raised their target price on LandBridge from $39.00 to $79.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Barclays increased their price objective on shares of LandBridge from $38.00 to $79.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. 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 company's stock. Based on data from MarketBeat.com, LandBridge has an average rating of "Moderate Buy" and an average price target of $53.33.

LandBridge Stock Down 6.7 %

The business has a fifty day moving average of $68.31 and a 200 day moving average of $57.09. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.66%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James & Associates boosted its position in shares of LandBridge by 9.2% during the third quarter. Raymond James & Associates now owns 229,350 shares of the company's stock worth $8,972,000 after purchasing an additional 19,350 shares in the last quarter. International Assets Investment Management LLC bought a new position in LandBridge during the third quarter worth about $1,836,000. Axxcess Wealth Management LLC acquired a new position in LandBridge in the third quarter valued at about $218,000. OneDigital Investment Advisors LLC bought a new stake in shares of LandBridge in the third quarter worth about $383,000. Finally, EagleClaw Capital Managment LLC bought a new stake in shares of LandBridge in the third quarter worth about $920,000.

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.