LandBridge (NYSE:LB) Stock Price Down 6.3% – Time to Sell?

LandBridge Company LLC (NYSE:LB) shares dropped 6.3% during mid-day trading on Thursday . The company traded as low as $63.19 and last traded at $64.36. Approximately 126,404 shares were traded during trading, a decline of 75% from the average daily volume of 501,564 shares. The stock had previously closed at $68.67.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LB shares. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Barclays boosted their price objective on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Wells Fargo & Company boosted their price objective on shares of LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research report on Friday, January 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.00.

LandBridge Trading Down 6.3%

The company has a debt-to-equity ratio of 0.70, a current ratio of 4.87 and a quick ratio of 4.87. The business’s 50-day simple moving average is $67.57 and its two-hundred day simple moving average is $60.65. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 68.68 and a beta of 0.54.

LandBridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 5th were issued a $0.12 dividend. The ex-dividend date was Thursday, March 5th. 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. LandBridge’s payout ratio is currently 51.06%.

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

Insider Activity at LandBridge

In other news, Director Charles L. Watson sold 30,680 shares of the company’s stock in a transaction dated 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 completion of the sale, the director owned 86,920 shares of the company’s stock, valued at $6,438,164.40. This represents 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 at this hyperlink. Insiders sold a total of 53,350 shares of company stock worth $3,974,555 in the last 90 days. Insiders own 70.42% of the company’s stock.

Institutional Trading of LandBridge

Several large investors have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its position in shares of LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in LandBridge in the 4th quarter valued at about $33,000. Quattro Advisors LLC acquired a new stake in shares of LandBridge during the fourth quarter valued at about $36,000. Galaxy Group Investments LLC acquired a new position in shares of LandBridge in the fourth quarter worth about $36,000. Finally, CIBC Private Wealth Group LLC purchased a new position in LandBridge in the fourth quarter valued at about $40,000.

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.