LandBridge (NYSE:LB) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

LandBridge Company LLC (NYSE:LB) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $61.53 and traded as high as $68.80. LandBridge shares last traded at $67.8950, with a volume of 115,955 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LB. Barclays lifted their price target on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Wells Fargo & Company lifted their price target on LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research report on Wednesday, April 8th. The Goldman Sachs Group lifted their price target on LandBridge from $69.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, LandBridge presently has an average rating of “Hold” and an average price target of $76.00.

LandBridge Price Performance

The stock has a 50 day simple moving average of $69.90 and a two-hundred day simple moving average of $61.66. The firm has a market cap of $5.25 billion, a PE ratio of 72.48 and a beta of 0.54. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, March 5th. This is an increase from LandBridge’s previous quarterly dividend of $0.10. LandBridge’s dividend payout ratio (DPR) is 51.06%.

LandBridge declared that its board has authorized a share buyback plan on Wednesday, February 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at LandBridge

In other LandBridge news, Director Charles L. Watson sold 30,680 shares of LandBridge 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 completion of the transaction, the director owned 86,920 shares in the company, valued at approximately $6,438,164.40. This trade represents a 26.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 53,350 shares of company stock worth $3,974,555. Company insiders own 70.42% of the company’s stock.

Hedge Funds Weigh In On LandBridge

Several institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank increased its stake in shares of LandBridge by 13.6% in the 3rd quarter. Comerica Bank now owns 1,369 shares of the company’s stock valued at $73,000 after purchasing an additional 164 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of LandBridge by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after purchasing an additional 230 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of LandBridge by 12.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock valued at $183,000 after purchasing an additional 301 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of LandBridge by 9.4% in the 3rd quarter. Geneos Wealth Management Inc. now owns 3,880 shares of the company’s stock valued at $207,000 after purchasing an additional 335 shares in 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.