Sprott Inc. Purchases 9,054 Shares of LandBridge Company LLC $LB

Sprott Inc. increased its holdings in LandBridge Company LLC (NYSE:LB) by 13.9% in the 3rd quarter, Holdings Channel reports. The fund owned 74,363 shares of the company’s stock after buying an additional 9,054 shares during the quarter. Sprott Inc.’s holdings in LandBridge were worth $3,967,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sierra Summit Advisors LLC boosted its position in shares of LandBridge by 82.3% in the 3rd quarter. Sierra Summit Advisors LLC now owns 17,060 shares of the company’s stock worth $910,000 after purchasing an additional 7,701 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in LandBridge in the third quarter worth $499,000. OneDigital Investment Advisors LLC grew its stake in shares of LandBridge by 8.2% in the third quarter. OneDigital Investment Advisors LLC now owns 30,342 shares of the company’s stock worth $1,619,000 after acquiring an additional 2,288 shares during the last quarter. Essex Financial Services Inc. increased its holdings in shares of LandBridge by 64.5% during the third quarter. Essex Financial Services Inc. now owns 18,304 shares of the company’s stock valued at $977,000 after acquiring an additional 7,178 shares in the last quarter. Finally, Ingalls & Snyder LLC purchased a new position in shares of LandBridge in the 3rd quarter worth about $373,000.

Insider Activity

In other LandBridge news, insider Harrison Fenner Bolling acquired 850 shares of the 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 purchase, the insider directly owned 66,874 shares of the company’s stock, valued at approximately $3,132,378.16. This trade represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jason Thomas Long acquired 2,143 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was acquired at an average cost of $46.59 per share, for a total transaction of $99,842.37. Following the acquisition, the insider owned 223,546 shares of the company’s stock, valued at $10,415,008.14. The trade was a 0.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 3,542 shares of company stock valued at $164,630 in the last ninety days. Insiders own 70.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LB. Piper Sandler increased their price objective on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, November 24th. UBS Group reiterated a “neutral” rating and issued a $65.00 target price on shares of LandBridge in a research note on Monday, November 24th. Janney Montgomery Scott downgraded shares of LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Finally, Raymond James Financial downgraded LandBridge from a “moderate buy” rating to a “strong sell” rating in a research note on Friday, December 5th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.33.

LandBridge Stock Performance

LB stock opened at $73.85 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.87 and a quick ratio of 4.87. LandBridge Company LLC has a 1 year low of $43.75 and a 1 year high of $87.60. The company has a market cap of $5.75 billion, a P/E ratio of 78.57 and a beta of 0.09. The stock’s fifty day moving average price is $57.81 and its 200-day moving average price is $57.08.

LandBridge announced that its board has approved a stock repurchase program 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 programs are often a sign that the company’s board of directors believes its stock is undervalued.

LandBridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, March 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from LandBridge’s previous quarterly dividend of $0.10. LandBridge’s dividend payout ratio is presently 42.55%.

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.