Jefferies Financial Group Inc. Takes $2.87 Million Position in LandBridge Company LLC $LB

Key Points

• Jefferies Financial Group disclosed a new fourth-quarter stake in LandBridge Company LLC, buying 58,477 shares worth about $2.87 million and ending with roughly 0.08% ownership.
• LandBridge recently reported quarterly EPS of $0.11 versus the $0.55 estimate, while revenue of $51.01 million also fell short of expectations; shares were down 6.8% and opened at $73.30.
• The company announced a quarterly dividend of $0.12 per share and a $50 million share repurchase plan, but analysts remain cautious overall with a consensus rating of Hold and an average price target of $76.17.

Jefferies Financial Group Inc. purchased a new stake in LandBridge Company LLC (NYSE:LB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 58,477 shares of the company's stock, valued at approximately $2,865,000. Jefferies Financial Group Inc. owned approximately 0.08% of LandBridge at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. NewEdge Advisors LLC grew its position 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 purchasing an additional 209 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of LandBridge in the fourth quarter valued at approximately $51,000. Aquatic Capital Management LLC purchased a new stake in shares of LandBridge in the third quarter valued at approximately $63,000. Jones Financial Companies Lllp grew its position 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 purchasing an additional 1,096 shares in the last quarter. Finally, Comerica Bank lifted its holdings in LandBridge by 13.6% in the third quarter. Comerica Bank now owns 1,369 shares of the company's stock valued at $73,000 after acquiring an additional 164 shares during the last quarter.

Wall Street Analyst Weigh In

LB has been the topic of a number of recent analyst reports. Barclays upped their price objective on LandBridge from $57.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 27th. Piper Sandler reiterated a "neutral" rating and issued a $66.00 price objective (up from $65.00) on shares of LandBridge in a report on Friday, May 8th. Zacks Research cut LandBridge from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of LandBridge in a report on Wednesday, April 8th. Finally, Wells Fargo & Company upped their price objective on LandBridge from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $76.17.

LandBridge Stock Down 6.8%

Shares of NYSE LB opened at $73.30 on Wednesday. The stock has a market cap of $5.65 billion, a P/E ratio of 75.57 and a beta of 0.14. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.66. LandBridge Company LLC has a 12-month low of $43.75 and a 12-month high of $85.60. The business's fifty day simple moving average is $69.89 and its 200-day simple moving average is $63.68.

LandBridge (NYSE:LB - Get Free Report) last announced 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 company had revenue of $51.01 million during the quarter, compared to analyst estimates of $58.72 million. LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The firm's revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. As a group, equities analysts predict that LandBridge Company LLC will post 1.48 EPS for the current fiscal year.

LandBridge Announces Dividend

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

LandBridge announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 25th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Activity

In other news, Director Charles L. Watson sold 13,000 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $75.00, for a total value of $975,000.00. Following the sale, the director directly owned 64,250 shares in the company, valued at approximately $4,818,750. This trade represents a 16.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 53,350 shares of company stock valued at $3,974,555 in the last 90 days. 70.42% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding LB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LandBridge Company LLC (NYSE:LB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.