LandBridge (NYSE:LB) Director Charles Watson Sells 13,000 Shares

LandBridge Company LLC (NYSE:LB) Director Charles Watson sold 13,000 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $75.00, for a total value of $975,000.00. Following the completion of the transaction, the director owned 64,250 shares in the company, valued at $4,818,750. This represents a 16.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

LandBridge Trading Down 2.2%

NYSE:LB opened at $72.87 on Friday. 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. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 77.52 and a beta of 0.11. The business’s 50-day moving average price is $59.49 and its two-hundred day moving average price is $57.61.

LandBridge announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1% of its stock through open market purchases. Stock repurchase plans are generally 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. Investors of record on Thursday, March 5th will be given a $0.12 dividend. The ex-dividend date is Thursday, March 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. LandBridge’s dividend payout ratio is 51.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research note on Friday, January 9th. UBS Group reissued a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a report 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. Janney Montgomery Scott lowered LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday, November 13th. Finally, Raymond James Financial cut LandBridge from a “moderate buy” rating to a “strong sell” rating in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $76.33.

Institutional Investors Weigh In On LandBridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in LB. Royal Bank of Canada boosted its stake in shares of LandBridge by 20.3% during the 1st quarter. Royal Bank of Canada now owns 27,008 shares of the company’s stock worth $1,944,000 after buying an additional 4,554 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of LandBridge in the first quarter valued at about $494,000. Sigma Planning Corp increased its position in shares of LandBridge by 79.5% in the second quarter. Sigma Planning Corp now owns 9,034 shares of the company’s stock valued at $611,000 after acquiring an additional 4,001 shares during the last quarter. Malaga Cove Capital LLC raised its holdings in LandBridge by 31.0% during the second quarter. Malaga Cove Capital LLC now owns 15,794 shares of the company’s stock worth $1,067,000 after acquiring an additional 3,737 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in LandBridge by 0.8% during the second quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after purchasing an additional 230 shares during the last quarter.

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.