Insider Selling: LandBridge (NYSE:LB) Director Sells $727,087.30 in Stock

LandBridge Company LLC (NYSE:LB) Director Charles Watson sold 9,670 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $75.19, for a total transaction of $727,087.30. Following the transaction, the director directly owned 77,250 shares of the company’s stock, valued at approximately $5,808,427.50. This trade represents a 11.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

LandBridge Stock Down 2.2%

LandBridge stock opened at $72.87 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.87 and a current ratio of 4.87. LandBridge Company LLC has a one year low of $43.75 and a one year high of $87.60. The company has a 50-day simple moving average of $59.49 and a 200-day simple moving average of $57.67. The firm has a market capitalization of $5.67 billion, a P/E ratio of 77.52 and a beta of 0.09.

LandBridge declared that its board has approved a stock repurchase program on Wednesday, February 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

LandBridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. LandBridge’s dividend payout ratio (DPR) is presently 51.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Raymond James Financial cut LandBridge from a “moderate buy” rating to a “strong sell” rating in a report on Friday, December 5th. UBS Group reissued a “neutral” rating and issued a $65.00 price objective on shares of LandBridge in a report on Monday, November 24th. Piper Sandler raised their target price on LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, November 24th. Zacks Research downgraded LandBridge from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, Wells Fargo & Company reduced their price target on LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $76.33.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its position in LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of LandBridge during the 4th quarter valued at $33,000. Quattro Advisors LLC acquired a new position in shares of LandBridge during the 4th quarter valued at $36,000. Galaxy Group Investments LLC bought a new stake in shares of LandBridge in the 4th quarter worth $36,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of LandBridge in the 4th quarter worth $40,000.

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.