LandBridge (NYSE:LB) Stock Crosses Above 200-Day Moving Average – Should You Sell?

LandBridge Company LLC (NYSE:LB)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $60.05 and traded as high as $69.95. LandBridge shares last traded at $66.4160, with a volume of 563,907 shares changing hands.

Analyst Upgrades and Downgrades

LB has been the topic of a number of research reports. 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. Wells Fargo & Company boosted their price target on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Barclays increased their price objective on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research report on Friday, January 9th. Finally, Zacks Research upgraded LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.00.

LandBridge Price Performance

The firm’s 50-day moving average price is $66.67 and its two-hundred day moving average price is $60.11. The stock has a market cap of $5.31 billion, a PE ratio of 73.30 and a beta of 0.54. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70.

LandBridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were given a dividend of $0.12 per share. This is a boost from LandBridge’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.48 annualized dividend and a yield of 0.7%. LandBridge’s payout ratio is 51.06%.

LandBridge announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 25th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Jason Thomas Long purchased 2,143 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was acquired at an average cost of $46.59 per share, with a total value of $99,842.37. Following the completion of 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. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Harrison Fenner Bolling purchased 850 shares of the stock in a transaction dated Monday, January 5th. The stock was purchased 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 in the company, valued at approximately $3,132,378.16. This represents a 1.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 3,542 shares of company stock worth $164,630 and sold 53,350 shares worth $3,974,555. 70.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LandBridge

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Manhattan CO. LLC. lifted its holdings in shares of LandBridge by 24.0% during the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after purchasing an additional 1,330,099 shares during the last quarter. Vanguard Group Inc. increased its position in LandBridge by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock valued at $45,602,000 after buying an additional 68,343 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in LandBridge in the fourth quarter valued at about $33,817,000. Hood River Capital Management LLC boosted its holdings in LandBridge by 4.4% in the second quarter. Hood River Capital Management LLC now owns 669,678 shares of the company’s stock worth $45,257,000 after acquiring an additional 28,333 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. boosted its holdings in LandBridge by 2.3% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock worth $29,046,000 after acquiring an additional 13,128 shares in 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.