LandBridge (NYSE:LB) Shares Down 6% - Here's Why

Key Points

• LandBridge shares fell 6% to about $75.59 in mid-day trading, with volume down 89% from the average. The decline brought the stock close to analysts’ consensus price target of $78.50.
• Analysts maintain a generally neutral outlook: two rate the stock Buy, six Hold, and one Sell. Piper Sandler raised its price target to $80, while Goldman Sachs set an $84 target.
• LandBridge’s latest quarter missed expectations, reporting $0.23 in EPS versus $0.55 forecast and revenue of $51.01 million versus $58.72 million expected. The company also declared a quarterly dividend of $0.12 per share, equivalent to a 0.6% annualized yield.

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

Analyst Ratings Changes

Several analysts have commented on LB shares. Zacks Research raised shares of LandBridge from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LandBridge in a research report on Monday, July 6th. Piper Sandler boosted their price objective 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. Finally, The Goldman Sachs Group set a $84.00 target price on shares of LandBridge in a research report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $78.50.

LandBridge Price Performance

The stock has a 50-day moving average price of $72.55 and a two-hundred day moving average price of $69.28. 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 market cap of $5.90 billion, a price-to-earnings ratio of 79.09 and a beta of 0.06.

LandBridge (NYSE:LB - Get Free Report) last released 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 business had revenue of $51.01 million during 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 company's quarterly revenue 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 EPS for the current year.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, August 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. LandBridge's dividend payout ratio is 49.48%.

Institutional Trading of LandBridge

A number of institutional investors have recently bought and sold shares of LB. Royal Bank of Canada raised its stake in LandBridge by 20.3% in the 1st quarter. Royal Bank of Canada now owns 27,008 shares of the company's stock worth $1,944,000 after acquiring an additional 4,554 shares during the last quarter. Empowered Funds LLC purchased a new position in LandBridge in the first quarter valued at $494,000. Geode Capital Management LLC raised its position in shares of LandBridge by 0.8% in the second 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 period. Cetera Investment Advisers acquired a new stake in shares of LandBridge during the 2nd quarter valued at about $218,000. Finally, Legal & General Group Plc increased its position in shares of LandBridge by 27.3% in the second quarter. Legal & General Group Plc now owns 16,114 shares of the company's stock valued at $1,089,000 after buying an additional 3,459 shares in the last quarter.

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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