LandBridge (NYSE:LB) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

LandBridge Company LLC (NYSE:LB)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $60.05 and traded as high as $69.95. LandBridge shares last traded at $66.4160, with a volume of 563,907 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LB shares. Raymond James Financial lowered LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. The Goldman Sachs Group upped their price objective on LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a report on Friday, March 13th. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research note on Friday, January 9th. Barclays raised their target price on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Finally, Wells Fargo & Company upped their price target on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.00.

LandBridge Stock Down 3.8%

The firm has a fifty day simple moving average of $66.49 and a 200-day simple moving average of $60.05. The company has a market capitalization of $5.12 billion, a P/E ratio of 70.66 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 Increases Dividend

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

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

Insider Buying and Selling at LandBridge

In related news, Director Charles L. Watson sold 30,680 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $74.07, for a total transaction of $2,272,467.60. Following the sale, the director directly owned 86,920 shares in the company, valued at $6,438,164.40. This trade represents a 26.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jason Thomas Long acquired 2,143 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was bought at an average cost of $46.59 per share, for a total transaction of $99,842.37. Following the completion of the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 3,542 shares of company stock valued at $164,630 and have sold 53,350 shares valued at $3,974,555. Insiders own 70.42% of the company’s stock.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LB. Atlas Wealth Partners LLC lifted its holdings in shares of LandBridge by 90.3% in the third quarter. Atlas Wealth Partners LLC now owns 35,038 shares of the company’s stock valued at $1,869,000 after purchasing an additional 16,623 shares in the last quarter. Cortland Associates Inc. MO grew its holdings in shares of LandBridge by 172.0% during the third quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock worth $22,004,000 after buying an additional 260,812 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of LandBridge by 476.0% during the second quarter. Advisory Services Network LLC now owns 86,030 shares of the company’s stock worth $5,814,000 after buying an additional 71,095 shares in the last quarter. Moors & Cabot Inc. raised its position in LandBridge by 11.4% in the 3rd quarter. Moors & Cabot Inc. now owns 196,379 shares of the company’s stock valued at $10,477,000 after buying an additional 20,115 shares during the last quarter. Finally, Viking Fund Management LLC acquired a new stake in LandBridge in the 3rd quarter valued at approximately $2,134,000.

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.