LandBridge (NYSE:LB) Board of Directors Announces Share Repurchase Plan

LandBridge (NYSE:LB) declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 25th, RTT News reports. The company plans to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

LB has been the subject of several recent research reports. 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 report on Wednesday, November 26th. Piper Sandler lifted their price objective on LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, November 24th. UBS Group reiterated a “neutral” rating and set a $65.00 price objective on shares of LandBridge in a research note on Monday, November 24th. Janney Montgomery Scott lowered shares of LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday, November 13th. Finally, Raymond James Financial cut shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a research note on Friday, December 5th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.33.

LandBridge Trading Down 0.2%

Shares of NYSE LB opened at $65.87 on Thursday. LandBridge has a 1-year low of $43.75 and a 1-year high of $87.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.15 and a quick ratio of 4.15. The business’s 50 day moving average is $56.54 and its two-hundred day moving average is $56.59. The stock has a market capitalization of $5.13 billion, a P/E ratio of 94.10 and a beta of 0.43.

Insider Buying and Selling

In related news, insider Harrison Fenner Bolling bought 850 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were purchased at an average price of $46.84 per share, with a total value of $39,814.00. Following the transaction, the insider owned 66,874 shares in the company, valued at $3,132,378.16. This trade represents a 1.29% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Thomas Long purchased 2,143 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was bought at an average price of $46.59 per share, with a total value of $99,842.37. Following the completion of the transaction, the insider owned 223,546 shares of the company’s stock, valued at $10,415,008.14. The trade was a 0.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 3,542 shares of company stock valued at $164,630. Company insiders own 70.42% of the company’s stock.

About LandBridge

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.