LandBridge (NYSE:LB) Shares Down 6.4% - Should You Sell?

LandBridge Co LLC (NYSE:LB - Get Free Report)'s share price fell 6.4% during trading on Thursday . The company traded as low as $64.50 and last traded at $63.72. 528,438 shares traded hands during trading, a decline of 23% from the average session volume of 690,669 shares. The stock had previously closed at $68.10.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LB. The Goldman Sachs Group reissued a "buy" rating and issued a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. Raymond James upped their price objective on shares of LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday. 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. Barclays increased their price target on LandBridge from $38.00 to $79.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. Finally, Piper Sandler lifted their price objective on LandBridge from $39.00 to $79.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.33.

LandBridge Stock Down 0.9 %

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 stock has a 50-day simple moving average of $68.24 and a 200-day simple moving average of $52.42.

LandBridge (NYSE:LB - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.24). The firm had revenue of $28.49 million during the quarter, compared to analyst estimates of $35.50 million. On average, research analysts anticipate that LandBridge Co LLC will post 0.99 earnings per share for the current year.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.62%.

Institutional Investors Weigh In On LandBridge

Hedge funds have recently modified their holdings of the stock. Horizon Kinetics Asset Management LLC raised 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 during the period. FMR LLC increased its stake 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 during the period. Schwartz Investment Counsel Inc. lifted its holdings in LandBridge by 1.0% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock worth $27,556,000 after buying an additional 4,400 shares in the last quarter. Mad River Investors boosted its position in LandBridge by 0.4% in the 4th quarter. Mad River Investors now owns 233,452 shares of the company's stock valued at $15,081,000 after buying an additional 902 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of LandBridge by 9.2% during the third quarter. Raymond James & Associates now owns 229,350 shares of the company's stock valued at $8,972,000 after acquiring an additional 19,350 shares in the last quarter.

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.