LandBridge (NYSE:LB) Upgraded at Zacks Research

Zacks Research upgraded shares of LandBridge (NYSE:LB) from a strong sell rating to a hold rating in a research note released on Monday,Zacks.com reports.

Several other research firms have also recently commented on LB. The Goldman Sachs Group lifted their price target on LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a report on Friday, March 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Barclays raised their target price on shares of LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. 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, Wells Fargo & Company upped their price target on shares of LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.00.

LandBridge Price Performance

Shares of NYSE:LB opened at $71.94 on Monday. The company has a market cap of $5.55 billion, a P/E ratio of 76.53 and a beta of 0.11. The business has a fifty day simple moving average of $65.46 and a 200-day simple moving average of $59.43. LandBridge has a 52 week low of $43.75 and a 52 week high of $87.60. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.70.

LandBridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were paid a dividend of $0.12 per share. This is a boost from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, March 5th. LandBridge’s payout ratio is currently 51.06%.

LandBridge announced that its Board of Directors has approved a stock buyback program on Wednesday, February 25th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at LandBridge

In other news, insider Harrison Fenner Bolling acquired 850 shares of LandBridge stock in a transaction dated Monday, January 5th. The shares were acquired at an average cost of $46.84 per share, with a total value of $39,814.00. Following the purchase, the insider directly owned 66,874 shares of the company’s stock, valued at approximately $3,132,378.16. This trade represents a 1.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Thomas Long bought 2,143 shares of the firm’s stock in a transaction dated 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 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 disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 3,542 shares of company stock worth $164,630 and have sold 53,350 shares worth $3,974,555. Company insiders own 70.42% of the company’s stock.

Institutional Investors Weigh In On LandBridge

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

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.