LandBridge Company LLC $LB Shares Acquired by Mad River Investors

Mad River Investors grew its stake in LandBridge Company LLC (NYSE:LB) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,934 shares of the company’s stock after purchasing an additional 21,878 shares during the period. LandBridge makes up approximately 5.9% of Mad River Investors’ portfolio, making the stock its 5th biggest holding. Mad River Investors’ holdings in LandBridge were worth $12,881,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LB. Royal Bank of Canada increased its holdings in shares of LandBridge by 20.3% in the first quarter. Royal Bank of Canada now owns 27,008 shares of the company’s stock valued at $1,944,000 after purchasing an additional 4,554 shares during the period. Empowered Funds LLC acquired a new position in shares of LandBridge in the first quarter valued at approximately $494,000. Geode Capital Management LLC increased its holdings in shares of LandBridge by 0.8% in 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 period. Cetera Investment Advisers acquired a new position in shares of LandBridge in the second quarter valued at approximately $218,000. Finally, Legal & General Group Plc increased its holdings in shares of LandBridge by 27.3% in the second quarter. Legal & General Group Plc now owns 16,114 shares of the company’s stock valued at $1,089,000 after purchasing an additional 3,459 shares during the period.

LandBridge Trading Up 4.1%

Shares of LB stock opened at $75.26 on Wednesday. The business’s fifty day moving average price is $69.48 and its 200 day moving average price is $63.09. 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 $5.80 billion, a PE ratio of 77.59 and a beta of 0.14. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.15 and a quick ratio of 3.15.

LandBridge (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The business had revenue of $51.01 million for the quarter, compared to analyst estimates of $58.72 million. During the same period in the prior year, the company earned $0.37 EPS. The company’s revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts forecast that LandBridge Company LLC will post 1.48 EPS for the current fiscal year.

LandBridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, June 4th. LandBridge’s dividend payout ratio is currently 49.48%.

LandBridge announced that its board has approved a share buyback program on Wednesday, February 25th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

LB has been the topic of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $66.00 target price (up from $65.00) on shares of LandBridge in a report on Friday, May 8th. The Goldman Sachs Group boosted their target price on LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a report on Friday, March 13th. Barclays boosted their target price on LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Zacks Research lowered LandBridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, Wells Fargo & Company upped their price objective on LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, LandBridge has an average rating of “Hold” and a consensus target price of $76.17.

Insider Buying and Selling

In other LandBridge news, Director Charles L. Watson sold 13,000 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $75.00, for a total transaction of $975,000.00. Following the sale, the director directly owned 64,250 shares in the company, valued at approximately $4,818,750. The trade was a 16.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 53,350 shares of company stock worth $3,974,555 in the last quarter. 70.42% of the stock is currently owned by insiders.

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.