LandBridge (NYSE:LB) Shares Down 3.7% - Here's Why

LandBridge Co LLC (NYSE:LB - Get Free Report) traded down 3.7% during trading on Friday . The company traded as low as $76.18 and last traded at $76.21. 231,177 shares were traded during trading, a decline of 40% from the average session volume of 388,203 shares. The stock had previously closed at $79.12.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Piper Sandler boosted their price target on shares of LandBridge from $39.00 to $79.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. Citigroup increased their target price on LandBridge from $31.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. The Goldman Sachs Group lifted their price target on LandBridge from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Barclays increased their price objective on LandBridge from $29.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company lifted their target price on shares of LandBridge from $34.00 to $36.00 and gave the stock an "overweight" rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.88.

LandBridge Price Performance

The firm has a market capitalization of $5.56 billion and a P/E ratio of 21.35. The business has a 50 day simple moving average of $56.93. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. LandBridge's dividend payout ratio is 11.24%.

Institutional Trading of LandBridge

Large investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of LandBridge during the 3rd quarter valued at $31,000. M&R Capital Management Inc. purchased a new position in LandBridge during the 3rd quarter valued at about $39,000. BNP Paribas Financial Markets bought a new stake in LandBridge during the third quarter worth about $168,000. Axxcess Wealth Management LLC purchased a new stake in LandBridge in the third quarter worth about $218,000. Finally, Requisite Capital Management LLC bought a new position in shares of LandBridge during the third quarter valued at approximately $293,000.

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.