Insider Selling: LandBridge (NYSE:LB) Director Sells $975,000.00 in Stock

LandBridge Company LLC (NYSE:LB) Director Charles Watson sold 13,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 64,250 shares in the company, valued at $4,818,750. The trade was a 16.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

LandBridge Trading Down 2.2%

Shares of LandBridge stock opened at $72.87 on Monday. LandBridge Company LLC has a fifty-two week low of $43.75 and a fifty-two week high of $87.60. The business’s fifty day moving average is $59.49 and its two-hundred day moving average is $57.67. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.70. The firm has a market cap of $5.67 billion, a PE ratio of 77.52 and a beta of 0.09.

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 given a $0.12 dividend. This is an increase from LandBridge’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. LandBridge’s dividend payout ratio is 51.06%.

LandBridge declared that its board has approved a share 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 repurchase up to 1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Janney Montgomery Scott cut shares of LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. Wells Fargo & Company lowered their target price on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Barclays boosted their target price on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. UBS Group reissued a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a research note on Monday, November 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $76.33.

Institutional Trading of LandBridge

Several institutional investors have recently made changes to their positions in the stock. Atlas Wealth Partners LLC raised its stake in shares of LandBridge by 90.3% during the 3rd quarter. Atlas Wealth Partners LLC now owns 35,038 shares of the company’s stock worth $1,869,000 after purchasing an additional 16,623 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of LandBridge in the 2nd quarter valued at approximately $927,000. Cortland Associates Inc. MO raised its position in LandBridge by 172.0% during the third quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock valued at $22,004,000 after acquiring an additional 260,812 shares in the last quarter. Sigma Planning Corp lifted its stake in LandBridge by 79.5% in the second quarter. Sigma Planning Corp now owns 9,034 shares of the company’s stock valued at $611,000 after acquiring an additional 4,001 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in LandBridge by 476.0% in the second quarter. Advisory Services Network LLC now owns 86,030 shares of the company’s stock valued at $5,814,000 after acquiring an additional 71,095 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.