LandBridge Company LLC (NYSE:LB) Receives $76.33 Consensus Target Price from Analysts

LandBridge Company LLC (NYSE:LB) has received a consensus recommendation of “Hold” from the ten analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $75.6667.

Several brokerages have weighed in on LB. Zacks Research lowered LandBridge from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 23rd. The Goldman Sachs Group upped their price target on LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company cut their price target on LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Barclays lifted their price objective on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research note on Friday, January 9th.

Insider Activity at LandBridge

In other LandBridge news, insider Harrison Fenner Bolling purchased 850 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average cost of $46.84 per share, for a total transaction of $39,814.00. Following the purchase, the insider owned 66,874 shares of the company’s stock, valued at $3,132,378.16. This represents a 1.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Thomas Long acquired 2,143 shares of LandBridge stock in a transaction that occurred on Monday, January 5th. The stock was acquired at an average price of $46.59 per share, with a total value of $99,842.37. Following the completion of the purchase, the insider directly owned 223,546 shares in the company, valued at $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 acquired 3,542 shares of company stock worth $164,630 and have sold 53,350 shares worth $3,974,555. 70.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LandBridge

Several hedge funds have recently made changes to their positions in the stock. First Manhattan CO. LLC. lifted its holdings in LandBridge by 24.0% during the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock worth $338,714,000 after purchasing an additional 1,330,099 shares in the last quarter. Vanguard Group Inc. grew its holdings in LandBridge by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock valued at $45,602,000 after buying an additional 68,343 shares in the last quarter. William Blair Investment Management LLC purchased a new position in LandBridge during the 4th quarter valued at about $33,817,000. Hood River Capital Management LLC increased its position in shares of LandBridge by 4.4% during the second quarter. Hood River Capital Management LLC now owns 669,678 shares of the company’s stock valued at $45,257,000 after buying an additional 28,333 shares during the period. Finally, Schwartz Investment Counsel Inc. increased its position in shares of LandBridge by 2.3% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock valued at $29,046,000 after buying an additional 13,128 shares during the period.

LandBridge Trading Up 2.7%

Shares of LB stock opened at $74.71 on Friday. 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 firm has a market cap of $5.82 billion, a P/E ratio of 79.47 and a beta of 0.09. The company has a 50 day moving average of $61.77 and a 200-day moving average of $58.36. LandBridge has a 12-month low of $43.75 and a 12-month high of $87.60.

LandBridge announced that its board has initiated a stock repurchase plan on Wednesday, February 25th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

LandBridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be paid a $0.12 dividend. The ex-dividend date is Thursday, March 5th. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. LandBridge’s dividend payout ratio is 51.06%.

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.