LandBridge (NYSE:LB) Trading Down 5% – Time to Sell?
by Danessa Lincoln · The Markets DailyLandBridge Company LLC (NYSE:LB – Get Free Report)’s share price dropped 5% during trading on Monday . The company traded as low as $71.10 and last traded at $71.0240. Approximately 326,535 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 525,990 shares. The stock had previously closed at $74.79.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Wells Fargo & Company boosted their price target on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday. Zacks Research cut LandBridge from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research note on Friday, January 9th. Barclays increased their target price on shares of LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. 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 report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.00.
View Our Latest Report on LandBridge
LandBridge Trading Up 0.3%
The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $62.90 and a 200 day simple moving average of $58.66. The firm has a market capitalization of $6.05 billion, a P/E ratio of 82.61 and a beta of 0.11.
LandBridge Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. This is a boost from LandBridge’s previous quarterly dividend of $0.10. LandBridge’s payout ratio is presently 51.06%.
LandBridge declared that its board has approved a stock repurchase program on Wednesday, February 25th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Insider Activity at LandBridge
In other LandBridge news, Director Charles L. Watson sold 30,680 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $74.07, for a total value of $2,272,467.60. Following the sale, the director owned 86,920 shares in the company, valued at $6,438,164.40. The trade was a 26.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Harrison Fenner Bolling acquired 850 shares of the company’s stock in a transaction on Monday, January 5th. The shares were bought at an average cost of $46.84 per share, with a total value of $39,814.00. Following the acquisition, the insider directly owned 66,874 shares in the company, valued at approximately $3,132,378.16. The trade was a 1.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 3,542 shares of company stock valued at $164,630 and sold 53,350 shares valued at $3,974,555. 70.42% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On LandBridge
Hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after buying an additional 209 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of LandBridge during the 4th quarter worth approximately $33,000. Quattro Advisors LLC bought a new position in shares of LandBridge during the 4th quarter valued at approximately $36,000. Galaxy Group Investments LLC bought a new position in shares of LandBridge during the 4th quarter valued at approximately $36,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of LandBridge in the fourth quarter valued at $40,000.
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.