LandBridge (NYSE:LB) Shares Down 6% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on LB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research report on Monday, July 6th. Piper Sandler lifted their target price on shares of LandBridge from $66.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, The Goldman Sachs Group set a $84.00 target price on shares of LandBridge in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LandBridge presently has a consensus rating of “Hold” and an average target price of $78.50.

LandBridge Stock Performance

The stock has a market cap of $5.90 billion, a PE ratio of 79.09 and a beta of 0.06. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $72.55 and a 200 day moving average of $69.28.

LandBridge (NYSE:LB) last issued its earnings results on Wednesday, May 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.32). LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The company had revenue of $51.01 million during the quarter, compared to analysts’ expectations of $58.72 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts predict that LandBridge Company LLC will post 1.48 EPS for the current fiscal year.

LandBridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. LandBridge’s dividend payout ratio is currently 49.48%.

Hedge Funds Weigh In On LandBridge

A number of institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in shares of LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after buying an additional 209 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of LandBridge during the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC raised its position in shares of LandBridge by 564.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after buying an additional 440 shares during the period. Quattro Advisors LLC acquired a new position in LandBridge in the fourth quarter valued at approximately $36,000. Finally, Galaxy Group Investments LLC acquired a new position in LandBridge in the fourth quarter valued at approximately $36,000.

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