LandBridge (NYSE:LB) Director Charles Watson Sells 30,680 Shares

LandBridge Company LLC (NYSE:LB) Director Charles Watson sold 30,680 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $74.07, for a total value of $2,272,467.60. Following the transaction, the director owned 86,920 shares in the company, valued at $6,438,164.40. The trade was a 26.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

LandBridge Stock Performance

NYSE:LB opened at $72.87 on Friday. 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 Company LLC has a twelve month low of $43.75 and a twelve month high of $87.60. The company has a fifty day moving average of $59.49 and a 200-day moving average of $57.61. The firm has a market capitalization of $5.67 billion, a P/E ratio of 77.52 and a beta of 0.11.

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 dividend of $0.12 per share. This is an increase from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, March 5th. LandBridge’s dividend payout ratio (DPR) is currently 51.06%.

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

Institutional Investors Weigh In On LandBridge

A number of institutional investors and hedge funds have recently bought and sold shares of LB. NewEdge Advisors LLC boosted its holdings in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of LandBridge in the fourth quarter valued at about $33,000. Quattro Advisors LLC bought a new position in shares of LandBridge during the fourth quarter valued at about $36,000. Galaxy Group Investments LLC purchased a new position in LandBridge during the fourth quarter worth about $36,000. Finally, CIBC Private Wealth Group LLC purchased a new position in LandBridge during the fourth quarter worth about $40,000.

Analysts Set New Price Targets

Several research firms have recently commented on LB. UBS Group restated a “neutral” rating and set a $65.00 price objective on shares of LandBridge in a report on Monday, November 24th. Wells Fargo & Company cut their target price on LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Janney Montgomery Scott downgraded shares of LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. Barclays boosted their price target on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Finally, Zacks Research lowered shares of LandBridge from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.33.

About LandBridge

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.