LandBridge Company LLC (NYSE:LB) Receives Average Recommendation of “Hold” from Analysts

LandBridge Company LLC (NYSE:LB) has been assigned an average rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $76.1667.

A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted 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. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research note on Wednesday, April 8th. Barclays lifted 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 lifted 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 lowered LandBridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th.

Insider Transactions at LandBridge

In related news, Director Charles L. Watson sold 30,680 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $74.07, for a total transaction of $2,272,467.60. Following the transaction, the director directly owned 86,920 shares in the company, valued at $6,438,164.40. The trade was 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 link. Insiders sold 53,350 shares of company stock worth $3,974,555 in the last 90 days. Insiders own 70.42% of the company’s stock.

Hedge Funds Weigh In On LandBridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of LandBridge in the 4th quarter valued at approximately $33,000. Quattro Advisors LLC bought a new stake in shares of LandBridge in the 4th quarter valued at approximately $36,000. Galaxy Group Investments LLC bought a new stake in shares of LandBridge in the 4th quarter valued at approximately $36,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of LandBridge in the 4th quarter valued at approximately $40,000.

LandBridge Price Performance

NYSE LB opened at $64.81 on Friday. LandBridge has a fifty-two week low of $43.75 and a fifty-two week high of $87.60. The stock’s 50-day moving average is $70.11 and its two-hundred day moving average is $62.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.87 and a quick ratio of 4.87. The firm has a market cap of $5.00 billion, a P/E ratio of 66.81 and a beta of 0.14.

LandBridge (NYSE:LB) last posted its earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.44). LandBridge had a net margin of 15.71% and a return on equity of 4.46%. The company had revenue of $51.01 million for the quarter, compared to the consensus estimate of $58.72 million. During the same quarter last year, the business earned $0.37 earnings per share. LandBridge’s quarterly revenue was up 16.0% on a year-over-year basis. On average, analysts anticipate that LandBridge will post 3 earnings per share for the current fiscal year.

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

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, June 4th. LandBridge’s payout ratio is currently 51.06%.

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.