Cinctive Capital Management LP Makes New Investment in LandBridge Company LLC $LB

Cinctive Capital Management LP purchased a new stake in shares of LandBridge Company LLC (NYSE:LB) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 55,489 shares of the company’s stock, valued at approximately $2,960,000. Cinctive Capital Management LP owned approximately 0.07% of LandBridge as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cortland Associates Inc. MO lifted its holdings in shares of LandBridge by 172.0% in the third quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock valued at $22,004,000 after buying an additional 260,812 shares during the period. UBS Group AG grew its holdings in LandBridge by 88.6% during the third quarter. UBS Group AG now owns 426,156 shares of the company’s stock worth $22,735,000 after acquiring an additional 200,231 shares during the period. Advisory Services Network LLC raised its position in LandBridge by 476.0% in the second quarter. Advisory Services Network LLC now owns 86,030 shares of the company’s stock worth $5,814,000 after acquiring an additional 71,095 shares in the last quarter. Vanguard Group Inc. raised its position in LandBridge by 8.7% in the third quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after acquiring an additional 68,343 shares in the last quarter. Finally, One Charles Private Wealth Services LLC lifted its holdings in LandBridge by 37.5% in the 3rd quarter. One Charles Private Wealth Services LLC now owns 244,982 shares of the company’s stock valued at $13,070,000 after acquiring an additional 66,806 shares during the last quarter.

Analyst Ratings Changes

LB has been the subject of several research reports. Wells Fargo & Company reduced their price objective on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Piper Sandler increased their target price on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, November 24th. The Goldman Sachs Group raised their target price on shares of LandBridge from $69.00 to $84.00 and gave the stock a “buy” rating in a report on Friday. Raymond James Financial lowered shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Three 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 stock. According to data from MarketBeat, LandBridge currently has a consensus rating of “Hold” and an average price target of $75.67.

LandBridge Trading Up 2.7%

NYSE:LB opened at $74.71 on Monday. The stock has a fifty day simple moving average of $61.77 and a 200 day simple moving average of $58.36. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 79.47 and a beta of 0.09. LandBridge Company LLC has a 1-year low of $43.75 and a 1-year high of $87.60. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.70.

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 issued a $0.12 dividend. The ex-dividend date is Thursday, March 5th. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. LandBridge’s dividend payout ratio is 51.06%.

LandBridge announced that its Board of Directors has approved a stock buyback program on Wednesday, February 25th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at LandBridge

In other news, insider Harrison Fenner Bolling purchased 850 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were acquired at an average price of $46.84 per share, for a total transaction of $39,814.00. Following the completion of the acquisition, the insider directly owned 66,874 shares of the company’s stock, valued at $3,132,378.16. The trade was a 1.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Thomas Long purchased 2,143 shares of LandBridge stock in a transaction that occurred on Monday, January 5th. The stock was purchased at an average price of $46.59 per share, with a total value of $99,842.37. Following the transaction, the insider owned 223,546 shares in the company, valued at $10,415,008.14. This represents a 0.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 3,542 shares of company stock valued at $164,630 and have sold 53,350 shares valued at $3,974,555. 70.42% of the stock is currently owned by insiders.

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.