LandBridge (NYSE:LB) Trading Down 4.3% – Time to Sell?

LandBridge Co LLC (NYSE:LB)’s stock price fell 4.3% during trading on Friday . The stock traded as low as $64.76 and last traded at $65.69. 164,055 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 394,160 shares. The stock had previously closed at $68.65.

Analyst Ratings Changes

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

LandBridge Stock Down 7.0 %

The stock’s 50 day simple moving average is $59.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 0.63%.

Hedge Funds Weigh In On LandBridge

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new position in shares of LandBridge during the 3rd quarter worth about $31,000. M&R Capital Management Inc. bought a new position in LandBridge during the 3rd quarter valued at about $39,000. BNP Paribas Financial Markets bought a new position in LandBridge during the 3rd quarter valued at about $168,000. Axxcess Wealth Management LLC bought a new position in LandBridge during the 3rd quarter valued at about $218,000. Finally, Requisite Capital Management LLC bought a new position in LandBridge during the 3rd quarter valued at about $293,000.

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.