TB Alternative Assets Ltd. Makes New Investment in LandBridge Company LLC $LB

TB Alternative Assets Ltd. purchased a new stake in shares of LandBridge Company LLC (NYSE:LB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,141 shares of the company’s stock, valued at approximately $399,000.

A number of other institutional investors have also modified their holdings of LB. Royal Bank of Canada raised its stake in shares of LandBridge by 20.3% during the 1st quarter. Royal Bank of Canada now owns 27,008 shares of the company’s stock worth $1,944,000 after acquiring an additional 4,554 shares in the last quarter. Empowered Funds LLC purchased a new stake in LandBridge during the first quarter valued at approximately $494,000. Geode Capital Management LLC boosted its stake in LandBridge by 0.8% in the second quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after acquiring an additional 230 shares in the last quarter. Cetera Investment Advisers purchased a new position in LandBridge in the second quarter worth $218,000. Finally, Swiss National Bank grew its holdings in LandBridge by 13.7% in the second quarter. Swiss National Bank now owns 33,300 shares of the company’s stock worth $2,250,000 after purchasing an additional 4,000 shares during the last quarter.

Insider Transactions at LandBridge

In related news, Director Charles L. Watson sold 13,000 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $75.00, for a total transaction of $975,000.00. Following the completion of the transaction, the director owned 64,250 shares of the company’s stock, valued at $4,818,750. This trade represents a 16.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Thomas Long bought 2,143 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were acquired at an average price of $46.59 per share, with a total value of $99,842.37. Following the completion of the transaction, the insider directly owned 223,546 shares of the company’s stock, valued at $10,415,008.14. This trade represents a 0.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 3,542 shares of company stock worth $164,630 and have sold 53,350 shares worth $3,974,555. Company insiders own 70.42% of the company’s stock.

LandBridge Price Performance

Shares of NYSE LB opened at $66.42 on Thursday. The business’s 50 day moving average price is $66.49 and its 200 day moving average price is $60.05. The firm has a market cap of $5.12 billion, a P/E ratio of 70.66 and a beta of 0.54. LandBridge Company LLC has a 52 week low of $43.75 and a 52 week 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 declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 25th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

LandBridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th were issued a $0.12 dividend. This is an increase 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 dividend yield of 0.7%. LandBridge’s payout ratio is currently 51.06%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James Financial lowered LandBridge from a “moderate buy” rating to a “strong sell” rating in a report on Friday, December 5th. Zacks Research upgraded LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Barclays upped their target price on LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. The Goldman Sachs Group raised their price target on LandBridge from $69.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Wells Fargo & Company boosted their price target on LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.00.

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.