LandBridge (NYSE:LB) Sees Unusually-High Trading Volume – What’s Next?

LandBridge Co LLC (NYSE:LB) shares saw unusually-strong trading volume on Tuesday . Approximately 759,990 shares traded hands during 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.

Analyst Ratings Changes

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

LandBridge Price Performance

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average price is $67.67 and its 200-day moving average price is $50.03.

LandBridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Thursday, December 5th.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently bought and sold shares of LB. Segment Wealth Management LLC acquired a new position in LandBridge in the fourth quarter worth about $323,000. Mad River Investors grew its position in shares of LandBridge by 0.4% in the 4th quarter. Mad River Investors now owns 233,452 shares of the company’s stock worth $15,081,000 after acquiring an additional 902 shares in the last quarter. Annex Advisory Services LLC bought a new stake in shares of LandBridge in the 4th quarter valued at approximately $1,165,000. Sandbox Financial Partners LLC acquired a new stake in shares of LandBridge during the 4th quarter valued at approximately $637,000. Finally, HighTower Advisors LLC lifted its stake in LandBridge by 370.2% during the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after purchasing an additional 54,048 shares during 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.