LandBridge (NYSE:LB) Announces Earnings Results

LandBridge (NYSE:LB) announced its earnings results on Wednesday. The company reported $999.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $998.38, Zacks reports. LandBridge had a net margin of 13.72% and a return on equity of 4.63%.

LandBridge Price Performance

Shares of LB stock traded down $0.13 on Wednesday, hitting $65.87. 457,139 shares of the company’s stock were exchanged, compared to its average volume of 542,881. The company has a 50 day moving average of $56.28 and a 200 day moving average of $56.53. The stock has a market cap of $5.13 billion, a P/E ratio of 94.10 and a beta of 0.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.15 and a quick ratio of 4.15. LandBridge has a 12 month low of $43.75 and a 12 month high of $87.60.

Insider Transactions at LandBridge

In related news, insider Harrison Fenner Bolling purchased 850 shares of LandBridge stock in a transaction dated Monday, January 5th. The shares were bought at an average cost of $46.84 per share, for a total transaction of $39,814.00. Following the purchase, the insider owned 66,874 shares in the company, valued at approximately $3,132,378.16. This trade represents a 1.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Thomas Long purchased 2,143 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average cost of $46.59 per share, for a total transaction of $99,842.37. Following the completion of the acquisition, the insider directly owned 223,546 shares in the company, 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 bought 3,542 shares of company stock valued at $164,630 in the last three months. Company insiders own 70.42% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its holdings in LandBridge by 110.6% in the 2nd 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 acquired a new stake in shares of LandBridge during the fourth quarter valued at about $33,000. Galaxy Group Investments LLC bought a new stake in shares of LandBridge during the fourth quarter worth about $36,000. Quattro Advisors LLC acquired a new position in shares of LandBridge in the fourth quarter valued at approximately $36,000. Finally, CIBC Private Wealth Group LLC bought a new position in LandBridge in the 4th quarter valued at approximately $40,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LB shares. Piper Sandler boosted their price target on LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, November 24th. UBS Group reiterated a “neutral” rating and set a $65.00 target price 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 report on Thursday, November 13th. Raymond James Financial downgraded LandBridge from a “moderate buy” rating to a “strong sell” rating in a research note on Friday, December 5th. Finally, Wells Fargo & Company cut their price objective on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Three research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.33.

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.