LandBridge (NYSE:LB) Shares Down 9% – Time to Sell?

LandBridge Co LLC (NYSE:LB) was down 9% during trading on Monday . The stock traded as low as $66.55 and last traded at $67.07. Approximately 314,654 shares traded hands during trading, a decline of 43% from the average daily volume of 554,795 shares. The stock had previously closed at $73.70.

Analyst Ratings Changes

LB has been the topic of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. Piper Sandler raised their target price on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, Barclays boosted their price target on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.11.

LandBridge Trading Down 5.5 %

The company’s 50-day moving average is $66.64. The firm has a market cap of $5.10 billion and a PE ratio of 19.57. 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 declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On LandBridge

Hedge funds have recently made changes to their positions in the company. Centiva Capital LP boosted its stake in shares of LandBridge by 4.7% in the third quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock worth $373,000 after acquiring an additional 427 shares during the last quarter. nVerses Capital LLC acquired a new stake in LandBridge during the 3rd quarter worth $31,000. M&R Capital Management Inc. acquired a new stake in shares of LandBridge in the third quarter valued at about $39,000. BNP Paribas Financial Markets purchased a new position in shares of LandBridge in the third quarter worth about $168,000. Finally, Axxcess Wealth Management LLC acquired a new position in LandBridge during the third quarter worth about $218,000.

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.