LandBridge Company LLC $LB Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC boosted its LandBridge stake by 30.7% in the fourth quarter, ending with 110,626 shares valued at about $5.42 million.
• LandBridge reported weaker-than-expected quarterly results, posting EPS of $0.11 versus the $0.55 estimate and revenue of $51.01 million versus $58.72 million expected.
• The company recently announced a quarterly dividend of $0.12 per share and a $50 million share buyback program, while analysts currently rate the stock a consensus Hold with a $76.17 price target.

HighTower Advisors LLC raised its stake in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 30.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,626 shares of the company's stock after purchasing an additional 26,014 shares during the quarter. HighTower Advisors LLC owned about 0.14% of LandBridge worth $5,420,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Moors & Cabot Inc. increased its stake in LandBridge by 11.4% during the 3rd quarter. Moors & Cabot Inc. now owns 196,379 shares of the company's stock valued at $10,477,000 after purchasing an additional 20,115 shares in the last quarter. Viking Fund Management LLC increased its stake in LandBridge by 100.0% during the 4th quarter. Viking Fund Management LLC now owns 80,000 shares of the company's stock valued at $3,919,000 after purchasing an additional 40,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in LandBridge during the 3rd quarter valued at approximately $1,842,000. Cinctive Capital Management LP acquired a new position in LandBridge during the 3rd quarter valued at approximately $2,960,000. Finally, Annex Advisory Services LLC increased its stake in LandBridge by 8.6% during the 4th quarter. Annex Advisory Services LLC now owns 294,143 shares of the company's stock valued at $14,410,000 after purchasing an additional 23,324 shares in the last quarter.

Wall Street Analyst Weigh In

LB has been the topic of a number of research reports. Zacks Research lowered shares of LandBridge from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of LandBridge in a research note on Wednesday, April 8th. Piper Sandler reiterated a "neutral" rating and issued a $66.00 price objective (up from $65.00) on shares of LandBridge in a research note on Friday, May 8th. The Goldman Sachs Group increased their price objective on shares of LandBridge from $69.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Finally, Wells Fargo & Company increased their price objective on shares of LandBridge from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 18th. Two investment 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.com, LandBridge presently has an average rating of "Hold" and a consensus price target of $76.17.

LandBridge Stock Down 2.0%

NYSE:LB opened at $72.48 on Thursday. The firm has a market capitalization of $5.59 billion, a P/E ratio of 74.72 and a beta of 0.14. LandBridge Company LLC has a 1-year low of $43.75 and a 1-year high of $85.60. The company's fifty day moving average price is $69.92 and its 200-day moving average price is $63.72. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 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 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 quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. As a group, equities research analysts anticipate that LandBridge Company LLC will post 1.48 EPS for the current year.

LandBridge Dividend Announcement

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

LandBridge announced that its board has approved a stock buyback plan on Wednesday, February 25th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Charles L. Watson sold 13,000 shares of the firm'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 sale, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 53,350 shares of company stock worth $3,974,555 in the last quarter. 70.42% of the stock is currently owned by company insiders.

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.

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