LandBridge (NYSE:LB) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• LandBridge shares moved above their 200-day moving average, trading as high as $79.63 and last changing hands around $78.11, which may signal improving technical momentum.
• Wall Street is mostly neutral on the stock: analysts currently show an average rating of “Hold” with an average price target of $76.17, though targets range from $66 to $92.
• Recent fundamentals were mixed, as the company missed earnings and revenue expectations in its latest quarter, even though revenue rose 16% year over year and it continues to pay a quarterly dividend of $0.12.

LandBridge Company LLC (NYSE:LB - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $66.44 and traded as high as $79.63. LandBridge shares last traded at $78.1120, with a volume of 183,785 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of LandBridge in a research report on Monday, July 6th. Zacks Research raised LandBridge from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. The Goldman Sachs Group set a $84.00 price objective on LandBridge in a research note on Thursday, May 28th. Piper Sandler reiterated a "neutral" rating and set a $66.00 target price (up from $65.00) on shares of LandBridge in a research report on Friday, May 8th. Finally, Wells Fargo & Company boosted their price target on shares of LandBridge from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 18th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, LandBridge presently has an average rating of "Hold" and an average target price of $76.17.

LandBridge Stock Performance

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 business has a 50 day simple moving average of $70.98 and a two-hundred day simple moving average of $66.44. The firm has a market cap of $6.02 billion, a PE ratio of 80.53 and a beta of 0.02.

LandBridge (NYSE:LB - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.32). The business had revenue of $51.01 million for the quarter, compared to the consensus estimate of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. As a group, equities research analysts forecast that LandBridge Company LLC will post 1.48 earnings per share for the current fiscal year.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, June 4th. LandBridge's dividend payout ratio is currently 49.48%.

Hedge Funds Weigh In On LandBridge

Institutional investors have recently modified their holdings of the stock. First Manhattan CO. LLC. lifted its holdings in shares of LandBridge by 24.0% in the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company's stock worth $338,714,000 after buying an additional 1,330,099 shares during the period. William Blair Investment Management LLC bought a new position in shares of LandBridge during the 4th quarter worth $33,817,000. DF Dent & Co. Inc. purchased a new position in shares of LandBridge during the fourth quarter valued at $21,506,000. Ashford Capital Management Inc. purchased a new position in shares of LandBridge during the first quarter valued at $17,162,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of LandBridge by 1,957.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 214,771 shares of the company's stock valued at $10,522,000 after acquiring an additional 204,331 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. 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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