LandBridge (NYSE:LB) Trading Down 10.8% - What's Next?

Key Points

• LandBridge's stock price dropped by 10.8%, closing at $52.96, following a peak drop to $53.44 during trading on Thursday.
• Analyst ratings for LandBridge are mixed, with a consensus of "Hold" and a price target of $65.86, while Wells Fargo raised their target to $93.00 and Barclays lowered it to $66.00.
• The company announced a quarterly dividend of $0.10 per share, set to be paid on September 18th, which represents an annualized yield of 0.8%.

LandBridge Company LLC (NYSE:LB - Get Free Report)'s stock price dropped 10.8% during trading on Thursday . The company traded as low as $53.44 and last traded at $52.96. Approximately 543,813 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 585,957 shares. The stock had previously closed at $59.35.

Analyst Ratings Changes

LB has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays lowered their price target on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Finally, Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.86.

LandBridge Price Performance

The business's fifty day simple moving average is $64.30 and its 200-day simple moving average is $68.92. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.60. The firm has a market cap of $3.89 billion, a P/E ratio of 14.31 and a beta of 0.32.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. LandBridge's payout ratio is presently 11.24%.

Insider Transactions at LandBridge

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $75.25, for a total transaction of $142,975,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 70.42% of the stock is owned by insiders.

Institutional Investors Weigh In On LandBridge

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE purchased a new stake in LandBridge in the first quarter valued at approximately $28,000. Uniplan Investment Counsel Inc. purchased a new stake in LandBridge in the first quarter valued at approximately $30,000. Banque Transatlantique SA purchased a new stake in LandBridge in the first quarter valued at approximately $34,000. Deutsche Bank AG purchased a new stake in LandBridge in the first quarter valued at approximately $55,000. Finally, Comerica Bank grew its position in LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after acquiring an additional 265 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.

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