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

Shares of LandBridge Company LLC (NYSE:LB) have earned an average rating of “Hold” from the ten research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $76.3333.

A number of brokerages have weighed in on LB. Piper Sandler raised their target price on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, November 24th. Zacks Research downgraded LandBridge from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. UBS Group reaffirmed a “neutral” rating and set a $65.00 price objective on shares of LandBridge in a research report on Monday, November 24th. Janney Montgomery Scott cut LandBridge from a “buy” rating to a “neutral” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th.

Insider Buying and Selling at LandBridge

In other news, Director Charles L. Watson sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $75.00, for a total value of $975,000.00. Following the transaction, the director owned 64,250 shares in the company, valued at approximately $4,818,750. This represents a 16.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Harrison Fenner Bolling purchased 850 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were purchased at an average price of $46.84 per share, for a total transaction of $39,814.00. Following the acquisition, the insider owned 66,874 shares of the company’s stock, valued at approximately $3,132,378.16. The trade was a 1.29% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In 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 owned by company insiders.

Hedge Funds Weigh In On LandBridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LB. NCM Capital Management LLC boosted its stake in LandBridge by 28.9% during the 4th quarter. NCM Capital Management LLC now owns 4,900 shares of the company’s stock valued at $240,000 after purchasing an additional 1,100 shares during the last quarter. Galaxy Group Investments LLC bought a new position in shares of LandBridge during the fourth quarter valued at $36,000. Vident Advisory LLC bought a new position in shares of LandBridge during the fourth quarter valued at $220,000. XTX Topco Ltd purchased a new stake in shares of LandBridge during the fourth quarter valued at $896,000. Finally, Yaupon Capital Management LP boosted its position in shares of LandBridge by 15.4% during the fourth quarter. Yaupon Capital Management LP now owns 51,258 shares of the company’s stock valued at $2,511,000 after buying an additional 6,834 shares during the last quarter.

LandBridge Trading Up 2.9%

Shares of NYSE LB opened at $72.76 on Friday. LandBridge has a 1 year low of $43.75 and a 1 year high of $87.60. 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 firm has a 50-day moving average of $61.24 and a 200 day moving average of $58.12. The stock has a market cap of $5.67 billion, a P/E ratio of 77.41 and a beta of 0.11.

LandBridge declared that its Board of Directors has initiated a share buyback program on Wednesday, February 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

LandBridge Increases Dividend

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

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.