LandBridge (NYSE:LB) Reaches New 12-Month Low - Time to Sell?

LandBridge Co LLC (NYSE:LB - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $69.00 and last traded at $72.96, with a volume of 320602 shares. The stock had previously closed at $74.27.

Analysts Set New Price Targets

Several brokerages recently issued reports on LB. Raymond James upped their target price on shares of LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Piper Sandler reduced their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an "overweight" rating in a research report on Friday, March 7th. The Goldman Sachs Group boosted their price target on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. Finally, Barclays raised their price objective on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, LandBridge currently has an average rating of "Moderate Buy" and a consensus price target of $59.44.

LandBridge Price Performance

The firm has a 50-day moving average of $69.78 and a 200-day moving average of $67.50. The stock has a market cap of $5.76 billion and a PE ratio of 22.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73.

LandBridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge's dividend payout ratio (DPR) is currently 11.24%.

Hedge Funds Weigh In On LandBridge

Hedge funds have recently modified their holdings of the stock. Fairway Wealth LLC bought a new stake in LandBridge in the 4th quarter valued at $50,000. Generali Investments Management Co LLC bought a new stake in shares of LandBridge in the fourth quarter worth about $52,000. KBC Group NV bought a new stake in shares of LandBridge in the fourth quarter worth about $72,000. Comerica Bank lifted its position in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after buying an additional 265 shares in the last quarter. Finally, Blue Trust Inc. bought a new position in LandBridge during the fourth quarter valued at approximately $110,000.

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.