LandBridge (NYSE:LB) Shares Gap Down on Disappointing Earnings

LandBridge Company LLC (NYSE:LB)’s stock price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $81.51, but opened at $78.00. LandBridge shares last traded at $75.47, with a volume of 50,694 shares changing hands.

The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44). LandBridge had a return on equity of 4.63% and a net margin of 13.72%.The company had revenue of $50.83 million during the quarter, compared to analyst estimates of $49.13 million.

LandBridge Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, December 4th. LandBridge’s dividend payout ratio (DPR) is 78.43%.

Analysts Set New Price Targets

A number of research firms have issued reports on LB. Piper Sandler lowered their price target on LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Janney Montgomery Scott lowered LandBridge from a “buy” rating to a “neutral” rating in a research note on Thursday. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Barclays reduced their price target on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company dropped their price objective on shares of LandBridge from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, LandBridge has an average rating of “Hold” and an average target price of $65.17.

Hedge Funds Weigh In On LandBridge

Large investors have recently bought and sold shares of the business. US Bancorp DE bought a new stake in shares of LandBridge during the 1st quarter worth about $28,000. NewEdge Advisors LLC increased its stake in shares of LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the period. Uniplan Investment Counsel Inc. bought a new stake in LandBridge during the first quarter worth approximately $30,000. Banque Transatlantique SA acquired a new stake in LandBridge in the first quarter worth approximately $34,000. Finally, Deutsche Bank AG acquired a new position in shares of LandBridge during the 1st quarter valued at $55,000.

LandBridge Stock Up 1.9%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.26 and a current ratio of 4.15. The company has a market cap of $5.70 billion, a P/E ratio of 146.02 and a beta of 0.15. The stock has a 50 day moving average price of $57.79 and a 200 day moving average price of $62.29.

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.