Key Points
- Director Point Energy Fund Aiv‑Five II sold 2,500,000 shares of LandBridge at an average price of $70.00 on Nov. 18, a transaction worth approximately $175,000,000 (SEC filing).
- Shares dropped about 4.1% to $57.27 after the company reported quarterly EPS of $0.26 versus analyst expectations of $0.70, while revenue came in at $50.83 million.
- LandBridge declared a quarterly dividend of $0.10 per share (annualized $0.40, ~0.7% yield) and the stock carries a consensus analyst rating of Hold with a $65.17 target price.
LandBridge Company LLC (NYSE:LB - Get Free Report) Director Point Energy Fund Aiv- Five II sold 2,500,000 shares of the company's stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $70.00, for a total value of $175,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
LandBridge Stock Down 4.1%
Shares of LB stock traded down $2.47 during trading on Friday, hitting $57.27. 359,724 shares of the company were exchanged, compared to its average volume of 526,937. The business's 50-day simple moving average is $58.69 and its 200 day simple moving average is $61.78. LandBridge Company LLC has a twelve month low of $48.55 and a twelve month high of $87.60. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 81.82 and a beta of 0.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.15 and a current ratio of 4.15.
LandBridge (NYSE:LB - Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.44). The company had revenue of $50.83 million during the quarter, compared to analysts' expectations of $49.13 million. LandBridge had a return on equity of 4.63% and a net margin of 13.72%. As a group, analysts forecast that LandBridge Company LLC will post 0.99 EPS for the current fiscal year.
LandBridge Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. LandBridge's dividend payout ratio (DPR) is presently 57.14%.
Institutional Investors Weigh In On LandBridge
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Entropy Technologies LP acquired a new stake in LandBridge in the 1st quarter worth $554,000. Amundi acquired a new position in shares of LandBridge during the first quarter valued at about $5,763,000. Kingswood Wealth Advisors LLC lifted its stake in shares of LandBridge by 50.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 44,891 shares of the company's stock valued at $3,034,000 after buying an additional 15,136 shares during the period. Vanguard Group Inc. grew its position in LandBridge by 17.1% during the first quarter. Vanguard Group Inc. now owns 697,748 shares of the company's stock worth $50,196,000 after buying an additional 102,085 shares in the last quarter. Finally, First Manhattan CO. LLC. increased its stake in LandBridge by 3.1% during the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company's stock valued at $201,303,000 after acquiring an additional 84,701 shares during the period.
Analysts Set New Price Targets
A number of brokerages have commented on LB. Raymond James Financial lowered their target price on LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Janney Montgomery Scott cut LandBridge from a "buy" rating to a "neutral" rating in a research note on Thursday, November 13th. Weiss Ratings restated a "hold (c)" rating on shares of LandBridge in a report on Tuesday, October 14th. Barclays cut their price objective on shares of LandBridge from $66.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 14th. Finally, Zacks Research raised shares of LandBridge from a "strong sell" rating to a "hold" rating in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $65.17.
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LandBridge Company Profile
(
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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.
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