LandBridge (NYSE:LB) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of LandBridge (NYSE:LB) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. Piper Sandler raised their price target on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research report on Friday, January 9th. UBS Group reiterated a “neutral” rating and set a $65.00 target price on shares of LandBridge in a research note on Monday, November 24th. Raymond James Financial lowered LandBridge from a “moderate buy” rating to a “strong sell” rating in a report on Friday, December 5th. Finally, Wells Fargo & Company upped their price target on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, LandBridge presently has a consensus rating of “Hold” and a consensus price target of $76.00.

LandBridge Stock Up 0.0%

NYSE:LB opened at $72.33 on Monday. The firm has a market cap of $5.58 billion, a P/E ratio of 76.95 and a beta of 0.11. 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 has a fifty-two week low of $43.75 and a fifty-two week high of $87.60. The firm has a 50-day simple moving average of $65.19 and a two-hundred day simple moving average of $59.34.

LandBridge announced that its board has initiated a share buyback plan on Wednesday, February 25th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

LandBridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.7%. LandBridge’s payout ratio is 51.06%.

Insider Activity

In other news, Director Charles L. Watson sold 13,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $75.00, for a total value of $975,000.00. Following the transaction, the director owned 64,250 shares in the company, valued at $4,818,750. This represents a 16.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Harrison Fenner Bolling acquired 850 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was acquired at an average cost of $46.84 per share, for a total transaction of $39,814.00. Following the acquisition, the insider owned 66,874 shares of the company’s stock, valued at $3,132,378.16. The trade was a 1.29% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 3,542 shares of company stock valued at $164,630 and sold 53,350 shares valued at $3,974,555. Insiders own 70.42% of the company’s stock.

Hedge Funds Weigh In On LandBridge

A number of institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC grew its holdings 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 purchasing an additional 209 shares during the period. Kestra Advisory Services LLC bought a new position in shares of LandBridge in the fourth quarter worth about $33,000. Quattro Advisors LLC bought a new position in shares of LandBridge in the fourth quarter worth about $36,000. Galaxy Group Investments LLC purchased a new position in shares of LandBridge during the 4th quarter valued at about $36,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of LandBridge during the 4th quarter valued at about $40,000.

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.