LandBridge (NYSE:LB) Director Sells $975,000.00 in Stock

LandBridge Company LLC (NYSE:LB) Director Charles Watson sold 13,000 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 64,250 shares in the company, valued at $4,818,750. This trade represents a 16.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

LandBridge Stock Down 2.2%

NYSE LB traded down $1.67 during trading on Friday, reaching $72.87. 530,061 shares of the company’s stock were exchanged, compared to its average volume of 552,333. The company has a 50 day moving average price of $59.07 and a two-hundred day moving average price of $57.47. The stock has a market cap of $5.67 billion, a P/E ratio of 77.52 and a beta of 0.11. LandBridge Company LLC 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 quick ratio of 4.87 and a current ratio of 4.87.

LandBridge announced that its board has authorized a share repurchase program on Wednesday, February 25th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

LandBridge Increases Dividend

The business 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 $0.12 dividend. This is an increase from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, March 5th. LandBridge’s payout ratio is currently 42.55%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On LandBridge

Several institutional investors have recently added to or reduced their stakes in LB. NewEdge Advisors LLC lifted its position in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of LandBridge during the fourth quarter worth approximately $33,000. Quattro Advisors LLC acquired a new stake in shares of LandBridge during the fourth quarter worth $36,000. Galaxy Group Investments LLC purchased a new position in LandBridge in the 4th quarter valued at $36,000. Finally, CIBC Private Wealth Group LLC acquired a new position in LandBridge in the 4th 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.