LandBridge (NYSE:LB) Trading Down 8.8% - Here's Why

LandBridge Co LLC (NYSE:LB - Get Free Report)'s stock price fell 8.8% on Friday . The stock traded as low as $69.62 and last traded at $69.54. 409,174 shares traded hands during trading, a decline of 18% from the average session volume of 499,583 shares. The stock had previously closed at $76.26.

Analysts Set New Price Targets

A number of research firms have weighed in on LB. The Goldman Sachs Group boosted their target price on shares of LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Barclays raised their price target on shares of LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Wells Fargo & Company set a $82.00 price objective on shares of LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. Piper Sandler lowered their target price on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Finally, Raymond James increased their price target on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $59.44.

LandBridge Trading Up 0.7 %

The company has a market capitalization of $5.30 billion and a P/E ratio of 20.36. The business has a fifty day moving average of $70.35 and a 200-day moving average of $63.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

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LandBridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Thursday, March 6th. LandBridge's dividend payout ratio (DPR) is 11.24%.

Institutional Investors Weigh In On LandBridge

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased 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 purchasing an additional 686,070 shares in the last quarter. Hood River Capital Management LLC purchased a new position in shares of LandBridge during the fourth quarter valued at approximately $41,431,000. Vanguard Group Inc. bought a new stake in LandBridge during the fourth quarter worth $38,480,000. First Manhattan CO. LLC. raised its position in LandBridge by 23.5% in the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock valued at $175,292,000 after buying an additional 516,380 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in LandBridge during the 4th quarter valued at $20,928,000.

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.