LandBridge (NYSE:LB) Shares Down 6.6% – Time to Sell?

LandBridge Co LLC (NYSE:LB) dropped 6.6% on Friday . The stock traded as low as $68.92 and last traded at $67.61. Approximately 81,629 shares were traded during trading, a decline of 88% from the average daily volume of 668,360 shares. The stock had previously closed at $72.40.

Wall Street Analysts Forecast Growth

LB has been the subject of several recent research reports. Raymond James increased their price target on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Barclays raised their target price on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Finally, Piper Sandler raised 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.33.

LandBridge Price Performance

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $68.08 and a 200 day simple moving average of $56.26.

Institutional Trading of LandBridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fairway Wealth LLC acquired a new position in shares of LandBridge in the 4th quarter valued at about $50,000. Generali Investments Management Co LLC acquired a new position in shares of LandBridge in the 4th quarter valued at about $52,000. KBC Group NV acquired a new position in shares of LandBridge in the 4th quarter valued at about $72,000. Comerica Bank lifted its stake in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after purchasing an additional 265 shares in the last quarter. Finally, Blue Trust Inc. acquired a new position in shares of LandBridge in the 4th 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.