Amundi Sells 86,188 Shares of LandBridge Company LLC $LB

Key Points

• Amundi cut its LandBridge stake by 45.8% in the first quarter, selling 86,188 shares and retaining 102,085 shares worth approximately $7.05 million, or 0.13% of the company.
• LandBridge reported quarterly EPS of $0.23, missing the $0.55 analyst consensus, while revenue of $51.01 million also fell short of expectations. Revenue nonetheless increased 16% year over year.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating with an average price target of $78.50, compared with a recent share price of $75.45.

Amundi lowered its stake in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 45.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 102,085 shares of the company's stock after selling 86,188 shares during the period. Amundi owned approximately 0.13% of LandBridge worth $7,049,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LB. Comerica Bank raised its position in LandBridge by 13.6% in the 3rd quarter. Comerica Bank now owns 1,369 shares of the company's stock valued at $73,000 after buying an additional 164 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company's stock worth $27,000 after acquiring an additional 209 shares during the last quarter. Geode Capital Management LLC boosted its holdings in LandBridge by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company's stock worth $1,958,000 after acquiring an additional 230 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of LandBridge by 12.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company's stock worth $183,000 after acquiring an additional 301 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of LandBridge by 564.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company's stock worth $36,000 after acquiring an additional 440 shares in the last quarter.

LandBridge Price Performance

Shares of NYSE LB opened at $75.45 on Thursday. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $72.44 and a two-hundred day simple moving average of $69.14. LandBridge Company LLC has a 1-year low of $43.75 and a 1-year high of $85.60. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 77.79 and a beta of 0.06.

LandBridge (NYSE:LB - Get Free Report) last issued its quarterly 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 analysts' expectations of $58.72 million. LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The firm's quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 EPS. Analysts anticipate that LandBridge Company LLC will post 1.48 earnings per share for the current year.

Analyst Ratings Changes

LB has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of LandBridge from $66.00 to $80.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LandBridge in a research report on Monday, July 6th. Zacks Research upgraded shares of LandBridge from a "strong sell" rating to a "hold" rating in a research note 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 assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $78.50.

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.

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