LandBridge (NYSE:LB) Stock Price Crosses Below 200 Day Moving Average After Earnings Miss

by · The Markets Daily

Shares of LandBridge Company LLC (NYSE:LB – Get Free Report) crossed below its 200-day moving average during trading on Wednesday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $73.66 and traded as low as $67.64. LandBridge shares last traded at $68.4660, with a volume of 1,404,186 shares trading hands.

The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The business had revenue of $70.89 million for the quarter, compared to the consensus estimate of $65.94 million. LandBridge had a net margin of 16.49% and a return on equity of 4.75%. LandBridge’s revenue was up 39.5% compared to the same quarter last year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup upped their target price on LandBridge from $66.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Zacks Research downgraded LandBridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Piper Sandler increased their target price on shares of LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, September 1st. Weiss Ratings downgraded shares of LandBridge from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 27th. Finally, Raymond James Financial restated an “outperform” rating and issued a $91.00 price target on shares of LandBridge in a report on Monday, October 19th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LandBridge presently has a consensus rating of “Hold” and a consensus price target of $83.00.

View Our Latest Report on LB

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in shares of LandBridge by 564.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after purchasing an additional 440 shares during the period. Markowski Investments acquired a new stake in LandBridge during the second quarter valued at $54,000. Fifth Third Bancorp acquired a new stake in LandBridge during the first quarter valued at $97,000. SG Americas Securities LLC acquired a new stake in LandBridge during the first quarter valued at $124,000. Finally, Pinnacle Wealth Planning Services Inc. increased its holdings in LandBridge by 20.2% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,533 shares of the company’s stock valued at $124,000 after buying an additional 258 shares in the last quarter.

LandBridge Stock Down 13.3%

The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27. The business’s fifty day simple moving average is $83.60 and its two-hundred day simple moving average is $73.66. The company has a market cap of $5.28 billion, a PE ratio of 60.59 and a beta of 0.19.

LandBridge Company Profile

(Get Free Report)

LandBridge Company (NYSE: LB) is a landowner and infrastructure-focused real estate company serving the energy and industrial sectors. The company owns and manages large tracts of land in the Permian Basin, primarily in West Texas and southeastern New Mexico, one of the leading oil and natural gas producing regions in the United States.

LandBridge generates revenue by providing access to its properties and related resources. Its activities include surface-use agreements, easements, rights-of-way, water services, mineral and royalty interests, and accommodations for energy, logistics, and infrastructure projects.

See Also