Insider Buying: LandBridge (NYSE:LB) Insider Acquires $99,842.37 in Stock
by Scott Moore · The Cerbat GemLandBridge Company LLC (NYSE:LB – Get Free Report) insider Jason Thomas Long bought 2,143 shares of LandBridge stock in a transaction dated Monday, January 5th. The stock was purchased at an average price of $46.59 per share, with a total value of $99,842.37. Following the purchase, the insider directly owned 223,546 shares in the company, valued at approximately $10,415,008.14. This trade represents a 0.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
LandBridge Trading Up 7.2%
Shares of LandBridge stock opened at $50.53 on Friday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 72.18 and a beta of 0.43. LandBridge Company LLC has a 52-week low of $43.75 and a 52-week high of $87.60. The company’s 50-day simple moving average is $57.50 and its 200-day simple moving average is $56.57. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.52.
LandBridge (NYSE:LB – Get Free Report) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The business had revenue of $50.83 million during the quarter, compared to analysts’ expectations of $49.13 million. LandBridge had a net margin of 13.72% and a return on equity of 4.63%. As a group, equities research analysts anticipate that LandBridge Company LLC will post 0.99 earnings per share for the current year.
LandBridge Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a $0.10 dividend. The ex-dividend date was Thursday, December 4th. This represents a $0.40 annualized dividend and a yield of 0.8%. LandBridge’s dividend payout ratio is presently 57.14%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on LB. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a report on Tuesday, October 14th. Janney Montgomery Scott cut shares of LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday, November 13th. UBS Group reissued a “neutral” rating and set a $65.00 price target on shares of LandBridge in a research note on Monday, November 24th. Zacks Research upgraded LandBridge from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. Finally, Wells Fargo & Company reduced their price objective on LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.33.
Read Our Latest Analysis on LB
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of LB. NewEdge Advisors LLC raised its position in shares of LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of LandBridge in the third quarter worth $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 valued at $67,000 after acquiring an additional 1,096 shares in the last quarter. Comerica Bank boosted its stake in shares of LandBridge by 13.6% during the third quarter. Comerica Bank now owns 1,369 shares of the company’s stock valued at $73,000 after acquiring an additional 164 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in LandBridge during the 4th quarter worth about $75,000.
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.