LandBridge Company LLC (NYSE:LB – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $70.36, but opened at $74.13. LandBridge shares last traded at $72.64, with a volume of 6,683 shares traded.
Analyst Upgrades and Downgrades
A number of research analysts have commented on LB shares. Wells Fargo & Company boosted their target price on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Piper Sandler reaffirmed a “neutral” rating and set a $66.00 price target (up from $65.00) on shares of LandBridge in a research note on Friday, May 8th. The Goldman Sachs Group set a $84.00 price target on LandBridge in a report on Thursday, May 28th. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research note on Wednesday, April 8th. Finally, Barclays raised their price objective on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Two investment 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.17.
LandBridge Stock Up 5.7%
LandBridge (NYSE:LB – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The company had revenue of $51.01 million for the quarter, compared to the consensus estimate of $58.72 million. During the same period in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities analysts forecast that LandBridge Company LLC will post 1.48 earnings per share for the current fiscal year.
LandBridge Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. LandBridge’s dividend payout ratio (DPR) is presently 49.48%.
LandBridge declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other LandBridge news, Director Charles L. Watson sold 13,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $75.00, for a total transaction of $975,000.00. Following the completion of the transaction, the director owned 64,250 shares of the company’s stock, valued at $4,818,750. The trade was a 16.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 70.42% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On LandBridge
A number of institutional investors have recently made changes to their positions in LB. NewEdge Advisors LLC lifted its position in shares of LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in LandBridge in the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in LandBridge by 564.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after buying an additional 440 shares during the last quarter. Quattro Advisors LLC bought a new position in LandBridge in the 4th quarter worth approximately $36,000. Finally, Galaxy Group Investments LLC bought a new position in LandBridge in the 4th quarter worth approximately $36,000.
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.
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