LandBridge Company LLC (NYSE:LB) Given Consensus Rating of “Hold” by Analysts

Shares of LandBridge Company LLC (NYSE:LB) have received an average recommendation of “Hold” from the ten analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $76.00.

Several equities analysts have commented on LB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research report on Friday, January 9th. Wells Fargo & Company increased their price objective on LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Barclays increased their price objective on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. The Goldman Sachs Group increased their price objective on LandBridge from $69.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Finally, Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd.

LandBridge Stock Performance

Shares of LandBridge stock opened at $68.37 on Tuesday. The stock’s fifty day moving average is $67.07 and its two-hundred day moving average is $60.45. The company has a market capitalization of $5.27 billion, a PE ratio of 72.73 and a beta of 0.54. 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 has a 52 week low of $43.75 and a 52 week high of $87.60.

LandBridge declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

LandBridge Increases Dividend

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

Insider Transactions at LandBridge

In related news, Director Charles L. Watson sold 30,680 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $74.07, for a total value of $2,272,467.60. Following the transaction, the director owned 86,920 shares of the company’s stock, valued at $6,438,164.40. This represents a 26.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 53,350 shares of company stock valued at $3,974,555 over the last quarter. 70.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in LandBridge during the 4th quarter valued at $33,000. Quattro Advisors LLC bought a new stake in LandBridge during the 4th quarter valued at $36,000. Galaxy Group Investments LLC bought a new stake in LandBridge during the 4th quarter valued at $36,000. Finally, CIBC Private Wealth Group LLC bought a new stake in LandBridge during the 4th 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.