LandBridge (NYSE:LB) Trading Down 3.7% – Time to Sell?

LandBridge Co LLC (NYSE:LB)’s share price traded down 3.7% during mid-day trading on Friday . The company traded as low as $76.18 and last traded at $76.21. 231,177 shares were traded during mid-day 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

LB has been the topic of a number of research reports. Wells Fargo & Company lifted their target price on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Barclays lifted their price target on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group lifted 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. Piper Sandler lifted 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. Finally, Citigroup lifted 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.88.

LandBridge Trading Down 3.9 %

The business’s 50-day moving average is $56.19. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.53%.

Institutional Trading of LandBridge

Large investors have recently added to or reduced their stakes in the business. Centiva Capital LP boosted its position 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 purchasing an additional 427 shares during the period. nVerses Capital LLC bought a new position in shares of LandBridge in the third quarter worth approximately $31,000. M&R Capital Management Inc. bought a new position in shares of LandBridge in the third quarter worth approximately $39,000. BNP Paribas Financial Markets bought a new position in shares of LandBridge in the third quarter worth approximately $168,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of LandBridge in the third quarter worth approximately $218,000.

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.