Key Points
- Director Charles Watson sold 9,670 shares on March 4 at an average of $75.19 for about $727,087, trimming his stake by 11.13% to 77,250 shares valued around $5.81 million.
- Dividend increase to $0.12 quarterly (from $0.10) was announced, payable March 19 with an ex-dividend date of March 5, implying a $0.48 annualized payout and roughly a 0.7% yield.
- The Board authorized a $50 million share buyback (about 1% of outstanding stock), signaling management believes the shares may be undervalued.
LandBridge Company LLC (NYSE:LB - Get Free Report) Director Charles Watson sold 9,670 shares of LandBridge stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $75.19, for a total value of $727,087.30. Following the sale, the director owned 77,250 shares in the company, valued at $5,808,427.50. This trade represents a 11.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
LandBridge Stock Down 2.2%
Shares of NYSE LB opened at $72.87 on Friday. The business has a 50-day moving average price of $59.49 and a 200 day moving average price of $57.61. The stock has a market cap of $5.67 billion, a PE ratio of 77.52 and a beta of 0.11. 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 Company LLC has a 52-week low of $43.75 and a 52-week high of $87.60.
LandBridge Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This is an increase from LandBridge's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. LandBridge's dividend payout ratio is currently 51.06%.
LandBridge declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 25th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. NCM Capital Management LLC lifted its position in LandBridge by 28.9% in the fourth quarter. NCM Capital Management LLC now owns 4,900 shares of the company's stock valued at $240,000 after purchasing an additional 1,100 shares during the period. Galaxy Group Investments LLC acquired a new position in LandBridge during the 4th quarter worth approximately $36,000. Vident Advisory LLC purchased a new position in shares of LandBridge during the 4th quarter worth approximately $220,000. XTX Topco Ltd purchased a new position in shares of LandBridge during the 4th quarter worth approximately $896,000. Finally, Yaupon Capital Management LP lifted its holdings in shares of LandBridge by 15.4% in the 4th quarter. Yaupon Capital Management LP now owns 51,258 shares of the company's stock valued at $2,511,000 after buying an additional 6,834 shares during the period.
Wall Street Analysts Forecast Growth
LB has been the subject of several research reports. Raymond James Financial downgraded shares of LandBridge from a "moderate buy" rating to a "strong sell" rating in a research report on Friday, December 5th. Barclays upped their target price on shares of LandBridge from $57.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 27th. Weiss Ratings restated a "hold (c)" rating on shares of LandBridge in a research report on Friday, January 9th. Janney Montgomery Scott cut LandBridge from a "buy" rating to a "neutral" rating in a research report on Thursday, November 13th. Finally, UBS Group reiterated a "neutral" rating and issued a $65.00 target price on shares of LandBridge in a research note on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, LandBridge presently has a consensus rating of "Hold" and an average target price of $76.33.
Get Our Latest Analysis on LandBridge
LandBridge Company Profile
(
Get Free Report)
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.
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