LandBridge Company LLC (NYSE:LB) Receives Average Rating of “Hold” from Brokerages

LandBridge Company LLC (NYSE:LB) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $76.3333.

LB has been the subject of a number of analyst reports. UBS Group reiterated a “neutral” rating and set a $65.00 target price on shares of LandBridge in a report on Monday, November 24th. Raymond James Financial lowered LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Piper Sandler lifted their price objective on LandBridge from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, November 24th. Finally, Wells Fargo & Company reduced their target price on LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th.

LandBridge Trading Up 2.9%

NYSE:LB opened at $72.76 on Friday. The firm has a market capitalization of $5.67 billion, a P/E ratio of 77.41 and a beta of 0.11. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $61.24 and a 200 day moving average of $58.12. LandBridge has a 52 week low of $43.75 and a 52 week high of $87.60.

LandBridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.7%. This is an increase from LandBridge’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, March 5th. LandBridge’s dividend payout ratio (DPR) is presently 51.06%.

LandBridge declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 25th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Charles L. Watson sold 30,680 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $74.07, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Thomas Long purchased 2,143 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was bought at an average cost of $46.59 per share, with a total value of $99,842.37. Following the completion of the purchase, the insider owned 223,546 shares of the company’s stock, valued at $10,415,008.14. This represents a 0.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 3,542 shares of company stock worth $164,630 and sold 53,350 shares worth $3,974,555. Company insiders own 70.42% of the company’s stock.

Institutional Inflows and Outflows

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

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.