Cinctive Capital Management LP Purchases New Stake in LandBridge Company LLC $LB

Cinctive Capital Management LP acquired a new position in LandBridge Company LLC (NYSE:LB) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 55,489 shares of the company’s stock, valued at approximately $2,960,000.

Other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of LandBridge in the third quarter worth approximately $63,000. Jones Financial Companies Lllp lifted its position in shares of LandBridge by 805.9% in the third quarter. Jones Financial Companies Lllp now owns 1,232 shares of the company’s stock worth $67,000 after purchasing an additional 1,096 shares in the last quarter. Comerica Bank boosted its holdings in shares of LandBridge by 13.6% during the third quarter. Comerica Bank now owns 1,369 shares of the company’s stock worth $73,000 after purchasing an additional 164 shares during the period. Finally, Generali Investments Management Co LLC purchased a new position in LandBridge during the second quarter valued at approximately $117,000.

LandBridge Stock Up 2.7%

LandBridge stock opened at $74.71 on Monday. The company has a market capitalization of $5.82 billion, a P/E ratio of 79.47 and a beta of 0.09. The firm’s fifty day simple moving average is $61.77 and its 200-day simple moving average is $58.36. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70. LandBridge Company LLC has a 1-year low of $43.75 and a 1-year high of $87.60.

LandBridge declared that its board has approved a share buyback plan on Wednesday, February 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

LandBridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.6%. LandBridge’s dividend payout ratio (DPR) is currently 51.06%.

Insider Buying and Selling at LandBridge

In other LandBridge news, Director Charles L. Watson sold 30,680 shares of the business’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. The trade was 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. Also, insider Harrison Fenner Bolling purchased 850 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were bought at an average price of $46.84 per share, with a total value of $39,814.00. Following the purchase, the insider owned 66,874 shares in the company, valued at $3,132,378.16. This represents a 1.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 3,542 shares of company stock worth $164,630 and have sold 53,350 shares worth $3,974,555. Corporate insiders own 70.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LB. Zacks Research lowered shares of LandBridge from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Raymond James Financial cut shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a report on Friday, December 5th. UBS Group reaffirmed a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a research note on Monday, November 24th. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research report on Friday, January 9th. Finally, The Goldman Sachs Group upped their target price on LandBridge from $69.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, LandBridge currently has an average rating of “Hold” and an average price target of $75.67.

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.