LandBridge (NYSE:LB) Shares Gap Down – What’s Next?

LandBridge Company LLC (NYSE:LB)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $81.51, but opened at $78.00. LandBridge shares last traded at $75.47, with a volume of 50,694 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LB. Piper Sandler decreased their price objective on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Barclays cut their price objective on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a report on Tuesday, October 14th. Wells Fargo & Company dropped their price target on LandBridge from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Finally, Raymond James Financial reduced their price target on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.17.

LandBridge Stock Down 5.8%

The business has a 50 day simple moving average of $56.98 and a 200 day simple moving average of $62.21. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. The stock has a market cap of $5.88 billion, a PE ratio of 150.82 and a beta of 0.15.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, December 4th. LandBridge’s dividend payout ratio is 78.43%.

Institutional Trading of LandBridge

Several hedge funds and other institutional investors have recently bought and sold shares of LB. Swiss National Bank lifted its stake in LandBridge by 9.6% during the third quarter. Swiss National Bank now owns 36,500 shares of the company’s stock worth $1,947,000 after purchasing an additional 3,200 shares during the period. Blair William & Co. IL bought a new position in shares of LandBridge in the third quarter valued at approximately $566,000. Dimensional Fund Advisors LP bought a new stake in LandBridge during the 3rd quarter worth approximately $223,000. One Charles Private Wealth Services LLC grew its position in LandBridge by 37.5% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 244,982 shares of the company’s stock worth $13,070,000 after acquiring an additional 66,806 shares during the last quarter. Finally, Sprott Inc. increased its holdings in LandBridge by 13.9% during the 3rd quarter. Sprott Inc. now owns 74,363 shares of the company’s stock valued at $3,967,000 after purchasing an additional 9,054 shares in the last quarter.

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.