LandBridge (NYSE:LB) Stock Price Down 5% – Time to Sell?

Shares of LandBridge Company LLC (NYSE:LB) fell 5% on Monday . The company traded as low as $71.10 and last traded at $71.0240. 326,535 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 525,990 shares. The stock had previously closed at $74.79.

Wall Street Analyst Weigh In

LB has been the subject of several research reports. UBS Group reaffirmed a “neutral” rating and set a $65.00 price target on shares of LandBridge in a research report on Monday, November 24th. Wells Fargo & Company cut their target price on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. 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. The Goldman Sachs Group lifted their price target on shares of LandBridge from $69.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Zacks Research downgraded shares of LandBridge from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.67.

LandBridge Trading Down 4.9%

The stock has a 50-day moving average price of $61.77 and a two-hundred day moving average price of $58.36. The stock has a market capitalization of $5.54 billion, a PE ratio of 75.69 and a beta of 0.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.87 and a current ratio of 4.87.

LandBridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be paid a dividend of $0.12 per share. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, March 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. LandBridge’s dividend payout ratio is presently 51.06%.

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

Insiders Place Their Bets

In other LandBridge news, Director Charles L. Watson sold 13,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $75.00, for a total transaction of $975,000.00. Following the sale, the director directly owned 64,250 shares of the company’s stock, valued at $4,818,750. This trade represents a 16.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Harrison Fenner Bolling acquired 850 shares of the stock in a transaction dated Monday, January 5th. The stock was acquired at an average price of $46.84 per share, for a total transaction of $39,814.00. Following the completion of the transaction, the insider directly owned 66,874 shares of the company’s stock, valued at approximately $3,132,378.16. This represents a 1.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 3,542 shares of company stock worth $164,630 and sold 53,350 shares worth $3,974,555. 70.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LandBridge

Hedge funds have recently modified their holdings of the stock. First Manhattan CO. LLC. grew its stake in LandBridge by 24.0% during the fourth quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after acquiring an additional 1,330,099 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of LandBridge during the fourth quarter valued at about $33,817,000. DF Dent & Co. Inc. purchased a new position in shares of LandBridge during the fourth quarter valued at about $21,506,000. Cortland Associates Inc. MO increased its holdings in shares of LandBridge by 172.0% in the third quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock worth $22,004,000 after purchasing an additional 260,812 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of LandBridge by 1,957.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 214,771 shares of the company’s stock worth $10,522,000 after purchasing an additional 204,331 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.