LandBridge Company LLC $LB Shares Acquired by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC increased its stake in LandBridge Company LLC (NYSE:LB) by 175.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,105 shares of the company’s stock after acquiring an additional 30,023 shares during the period. HITE Hedge Asset Management LLC owned approximately 0.06% of LandBridge worth $2,308,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LB. NewEdge Advisors LLC raised its stake in shares of LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at $40,000. Flagship Harbor Advisors LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at $51,000. Aquatic Capital Management LLC acquired a new stake in shares of LandBridge in the third quarter valued at $63,000. Finally, Jones Financial Companies Lllp raised its stake in shares of LandBridge by 805.9% in the third quarter. Jones Financial Companies Lllp now owns 1,232 shares of the company’s stock valued at $67,000 after acquiring an additional 1,096 shares in the last quarter.

LandBridge Stock Up 2.6%

LandBridge stock opened at $69.17 on Friday. The stock’s fifty day moving average is $69.68 and its two-hundred day moving average is $63.89. The stock has a market cap of $5.33 billion, a PE ratio of 71.31 and a beta of 0.08. LandBridge Company LLC has a 1-year low of $43.75 and a 1-year high of $85.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.15 and a quick ratio of 3.15.

LandBridge (NYSE:LB) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.44). The firm had revenue of $51.01 million for the quarter, compared to analysts’ expectations of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. On average, sell-side analysts expect that LandBridge Company LLC will post 1.48 EPS for the current fiscal year.

LandBridge declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 25th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

LandBridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. LandBridge’s dividend payout ratio (DPR) is presently 49.48%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $66.00 price target (up from $65.00) on shares of LandBridge in a research note on Friday, May 8th. Barclays raised their price target on LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. The Goldman Sachs Group set a $84.00 price target on LandBridge in a research note on Thursday, May 28th. Wells Fargo & Company raised their price target on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Finally, Zacks Research cut LandBridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, LandBridge has an average rating of “Hold” and a consensus price target of $76.17.

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.