LandBridge (NYSE:LB) Sees Strong Trading Volume – What’s Next?

LandBridge Co LLC (NYSE:LB) saw unusually-strong trading volume on Tuesday . Approximately 759,990 shares changed hands during mid-day trading, an increase of 64% from the previous session’s volume of 463,395 shares.The stock last traded at $78.26 and had previously closed at $74.75.

Analysts Set New Price Targets

LB has been the subject of a number of research reports. Barclays boosted their target price on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Piper Sandler increased their target price on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.67.

LandBridge Stock Down 0.1 %

The business’s 50 day moving average is $68.10 and its 200-day moving average is $50.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $5.85 billion and a PE ratio of 22.47.

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). The business had revenue of $28.49 million during the quarter, compared to the consensus estimate of $35.50 million. As a group, analysts predict that LandBridge Co LLC will post 0.99 EPS for the current year.

LandBridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On LandBridge

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after purchasing an additional 686,070 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its position in LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after buying an additional 484,968 shares during the period. Schwartz Investment Counsel Inc. increased its holdings in LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after buying an additional 363,345 shares in the last quarter. Mad River Investors acquired a new stake in shares of LandBridge during the 3rd quarter valued at approximately $9,097,000. Finally, Cortland Associates Inc. MO purchased a new stake in shares of LandBridge during the 4th quarter worth approximately $9,727,000.

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.