LandBridge Company LLC (NYSE:LB) Given Average Rating of “Hold” by Brokerages

Shares of LandBridge Company LLC (NYSE:LB) have been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $76.1667.

Several analysts have recently issued reports on the stock. Zacks Research cut shares of LandBridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Barclays increased their price target 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. Wells Fargo & Company increased their price objective on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. The Goldman Sachs Group set a $84.00 price objective on LandBridge in a research note on Thursday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $66.00 price objective (up from $65.00) on shares of LandBridge in a research note on Friday, May 8th.

LandBridge Stock Down 0.2%

NYSE:LB opened at $70.04 on Wednesday. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 72.20 and a beta of 0.08. The stock’s fifty day moving average is $69.72 and its two-hundred day moving average is $63.73. LandBridge has a 52 week low of $43.75 and a 52 week high of $85.60.

LandBridge (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.44). The business had revenue of $51.01 million for the quarter, compared to analyst estimates of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. Research analysts anticipate that LandBridge will post 1.48 EPS for the current year.

LandBridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, June 4th. LandBridge’s dividend payout ratio (DPR) is presently 49.48%.

LandBridge announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 25th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other LandBridge news, Director Charles L. Watson sold 13,000 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $75.00, for a total value of $975,000.00. Following the sale, the director directly owned 64,250 shares in the company, valued at $4,818,750. This trade represents a 16.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 70.42% of the company’s stock.

Institutional Trading of LandBridge

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Manhattan CO. LLC. raised its stake in LandBridge by 24.0% in the fourth quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after buying an additional 1,330,099 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of LandBridge by 8.7% during the third quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after purchasing an additional 68,343 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of LandBridge during the fourth quarter worth about $33,817,000. Schwartz Investment Counsel Inc. grew its holdings 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 worth $29,046,000 after purchasing an additional 13,128 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of LandBridge by 11.4% during the third quarter. Raymond James Financial Inc. now owns 453,423 shares of the company’s stock worth $24,190,000 after purchasing an additional 46,567 shares during the last quarter.

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.