LandBridge (NYSE:LB) Director Sells 13,000 Shares

LandBridge Company LLC (NYSE:LB) Director Charles Watson sold 13,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $75.00, for a total value of $975,000.00. Following the sale, the director directly owned 64,250 shares of the company’s stock, valued at $4,818,750. The trade was a 16.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

LandBridge Trading Down 2.2%

NYSE LB traded down $1.67 during trading hours on Friday, reaching $72.87. The company had a trading volume of 530,061 shares, compared to its average volume of 552,333. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $5.67 billion, a P/E ratio of 77.52 and a beta of 0.11. The stock has a 50-day moving average of $59.07 and a 200 day moving average of $57.47. LandBridge Company LLC has a 1-year low of $43.75 and a 1-year high of $87.60.

LandBridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be issued a $0.12 dividend. The ex-dividend date is Thursday, March 5th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. This is an increase from LandBridge’s previous quarterly dividend of $0.10. LandBridge’s dividend payout ratio (DPR) is currently 42.55%.

LandBridge declared that its board has authorized a share buyback program on Wednesday, February 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On LandBridge

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in shares of LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after buying an additional 209 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in LandBridge in the fourth quarter worth approximately $33,000. Quattro Advisors LLC acquired a new position in LandBridge during the 4th quarter worth approximately $36,000. Galaxy Group Investments LLC acquired a new position in LandBridge during the 4th quarter worth approximately $36,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of LandBridge in the 4th quarter valued at approximately $40,000.

Analyst Ratings Changes

A number of brokerages have issued reports on LB. UBS Group reissued a “neutral” rating and issued a $65.00 target price on shares of LandBridge in a research report on Monday, November 24th. Piper Sandler boosted their price objective on LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, November 24th. Barclays increased their target price on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Janney Montgomery Scott downgraded LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. Finally, Raymond James Financial lowered shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a research note on Friday, December 5th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.33.

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.