LandBridge Company LLC (NYSE:LB) Given Consensus Rating of “Hold” by Brokerages

LandBridge Company LLC (NYSE:LB) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $76.00.

Several brokerages have issued reports on LB. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Zacks Research lowered LandBridge from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 23rd. The Goldman Sachs Group increased their target price on LandBridge from $69.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Raymond James Financial downgraded shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a report on Friday, December 5th. Finally, Piper Sandler lifted their price target on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, November 24th.

LandBridge Stock Performance

LB stock opened at $71.04 on Friday. The business’s 50-day moving average price is $64.04 and its two-hundred day moving average price is $58.88. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70. The firm has a market cap of $5.53 billion, a PE ratio of 75.57 and a beta of 0.11. LandBridge has a 1-year low of $43.75 and a 1-year high of $87.60.

LandBridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 5th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, March 5th. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. LandBridge’s dividend payout ratio (DPR) is 51.06%.

LandBridge announced that its Board of Directors has approved 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 purchase up to 1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at LandBridge

In related news, Director Charles L. Watson sold 13,000 shares of the company’s 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 of the company’s stock, valued at approximately $4,818,750. This represents a 16.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Thomas Long bought 2,143 shares of the stock in a transaction on Monday, January 5th. The shares were purchased at an average price of $46.59 per share, with a total value of $99,842.37. Following the acquisition, the insider owned 223,546 shares in the company, valued at approximately $10,415,008.14. This represents a 0.97% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 3,542 shares of company stock valued at $164,630 and have sold 53,350 shares valued at $3,974,555. 70.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Atlas Wealth Partners LLC lifted its stake in LandBridge by 90.3% in the 3rd quarter. Atlas Wealth Partners LLC now owns 35,038 shares of the company’s stock valued at $1,869,000 after acquiring an additional 16,623 shares in the last quarter. Quadrature Capital Ltd acquired a new position in LandBridge during the 2nd quarter worth approximately $927,000. Cortland Associates Inc. MO grew its stake in shares of LandBridge by 172.0% during the 3rd quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock worth $22,004,000 after acquiring an additional 260,812 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of LandBridge by 476.0% during the 2nd quarter. Advisory Services Network LLC now owns 86,030 shares of the company’s stock worth $5,814,000 after acquiring an additional 71,095 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of LandBridge by 11.4% in the third quarter. Moors & Cabot Inc. now owns 196,379 shares of the company’s stock valued at $10,477,000 after purchasing an additional 20,115 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.