LandBridge (NYSE:LB) Issues Quarterly Earnings Results

LandBridge (NYSE:LB) released its quarterly earnings results on Wednesday. The company reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $998.38, Zacks reports. LandBridge had a net margin of 13.72% and a return on equity of 4.63%.

LandBridge Trading Down 0.2%

Shares of LandBridge stock traded down $0.13 on Wednesday, reaching $65.87. 457,139 shares of the company’s stock were exchanged, compared to its average volume of 542,881. The firm’s 50-day moving average is $56.28 and its two-hundred day moving average is $56.53. The company has a market capitalization of $5.13 billion, a P/E ratio of 94.10 and a beta of 0.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.15 and a current ratio of 4.15. LandBridge has a 52 week low of $43.75 and a 52 week high of $87.60.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LB. Raymond James Financial lowered LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Piper Sandler lifted their price objective on LandBridge from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, November 24th. Janney Montgomery Scott cut LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday, November 13th. Wells Fargo & Company lowered their price target on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, UBS Group restated a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a research report on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.33.

Insiders Place Their Bets

In related news, insider Jason Thomas Long acquired 2,143 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were purchased at an average price of $46.59 per share, for a total transaction of $99,842.37. Following the completion of the acquisition, the insider owned 223,546 shares of the company’s stock, valued at approximately $10,415,008.14. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Harrison Fenner Bolling bought 850 shares of LandBridge stock in a transaction dated Monday, January 5th. The stock was purchased at an average price of $46.84 per share, with a total value of $39,814.00. Following the completion of the purchase, the insider owned 66,874 shares in the company, valued at $3,132,378.16. This trade represents a 1.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 3,542 shares of company stock worth $164,630 in the last quarter. 70.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank increased its holdings in shares of LandBridge by 13.6% during the third quarter. Comerica Bank now owns 1,369 shares of the company’s stock valued at $73,000 after acquiring an additional 164 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares in the last quarter. Geode Capital Management LLC grew its position in LandBridge by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after purchasing an additional 230 shares during the period. Osaic Holdings Inc. increased its stake in LandBridge by 12.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock valued at $183,000 after purchasing an additional 301 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in LandBridge by 8.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 6,378 shares of the company’s stock worth $312,000 after buying an additional 478 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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.