LandBridge (NYSE:LB) Trading 9.1% Higher Following Insider Buying Activity

LandBridge Company LLC (NYSE:LB) shares rose 9.1% during mid-day trading on Thursday following insider buying activity. The stock traded as high as $48.32 and last traded at $48.2250. Approximately 466,006 shares traded hands during trading, a decline of 20% from the average daily volume of 582,686 shares. The stock had previously closed at $44.20.

Specifically, insider Harrison Fenner Bolling bought 850 shares of the business’s stock in a transaction on Monday, January 5th. The stock was bought at an average price of $46.84 per share, for a total transaction of $39,814.00. Following the transaction, the insider directly owned 66,874 shares in the company, valued at $3,132,378.16. This represents a 1.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Thomas Long purchased 2,143 shares of the stock in a transaction dated Monday, January 5th. The shares were bought at an average price of $46.59 per share, for a total transaction of $99,842.37. Following the completion of the acquisition, the insider owned 223,546 shares in the company, valued at $10,415,008.14. This represents a 0.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Zacks Research upgraded LandBridge from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. UBS Group reaffirmed a “neutral” rating and issued a $65.00 target price on shares of LandBridge in a research report on Monday, November 24th. Janney Montgomery Scott lowered LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research note on Tuesday, October 14th. Finally, Raymond James Financial lowered shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.33.

LandBridge Stock Up 7.2%

The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $57.50 and a 200-day simple moving average of $56.57. The stock has a market cap of $3.93 billion, a P/E ratio of 72.18 and a beta of 0.43.

LandBridge (NYSE:LB) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The firm had revenue of $50.83 million during the quarter, compared to the consensus estimate of $49.13 million. LandBridge had a net margin of 13.72% and a return on equity of 4.63%. Analysts expect that LandBridge Company LLC will post 0.99 EPS for the current year.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, December 4th. LandBridge’s dividend payout ratio is 57.14%.

Institutional Investors Weigh In On LandBridge

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

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.