LandBridge (NYSE:LB) Trading Down 6% – What’s Next?

LandBridge Company LLC (NYSE:LB) traded down 6% during mid-day trading on Friday . The company traded as low as $76.17 and last traded at $75.59. Approximately 46,673 shares traded hands during trading, a decline of 89% from the average session volume of 412,932 shares. The stock had previously closed at $80.40.

Wall Street Analyst Weigh In

LB has been the topic of a number of recent analyst reports. Zacks Research upgraded LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research note on Monday, July 6th. Piper Sandler upped their price target on LandBridge from $66.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group set a $84.00 price target on shares of LandBridge in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.20.

LandBridge Stock Down 6.3%

The firm’s 50 day simple moving average is $72.66 and its 200-day simple moving average is $69.32. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 66.67 and a beta of 0.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.15 and a quick ratio of 3.15.

LandBridge (NYSE:LB) last posted its earnings results on Wednesday, May 6th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). The firm had revenue of $51.01 million for the quarter, compared to analyst estimates of $58.72 million. LandBridge had a return on equity of 4.85% and a net margin of 16.49%.The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. As a group, sell-side analysts anticipate that LandBridge Company LLC will post 1.48 earnings per share for the current year.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.48 annualized dividend and a yield of 0.6%. LandBridge’s payout ratio is 42.48%.

Institutional Investors Weigh In On LandBridge

Large investors have recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new position in LandBridge during the 4th quarter worth $2,865,000. HighTower Advisors LLC increased its stake in LandBridge by 30.7% in the fourth quarter. HighTower Advisors LLC now owns 110,626 shares of the company’s stock valued at $5,420,000 after purchasing an additional 26,014 shares during the period. Mad River Investors raised its holdings in shares of LandBridge by 9.1% in the fourth quarter. Mad River Investors now owns 262,934 shares of the company’s stock valued at $12,881,000 after buying an additional 21,878 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of LandBridge in the fourth quarter valued at about $33,817,000. Finally, Annex Advisory Services LLC boosted its stake in shares of LandBridge by 8.6% during the fourth quarter. Annex Advisory Services LLC now owns 294,143 shares of the company’s stock worth $14,410,000 after buying an additional 23,324 shares during the period.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.