LandBridge Company LLC $LB Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its LandBridge stake by 35.5% in the fourth quarter, selling 151,305 shares and ending with 274,851 shares valued at about $13.5 million.
• LandBridge’s recent earnings missed expectations, posting $0.11 EPS versus the $0.55 consensus and revenue of $51.01 million versus $58.72 million expected, even though revenue rose 16% year over year.
• Analyst sentiment is mixed to cautious, with an average rating of “Hold” and an average price target of $76.17; the stock also has a new quarterly dividend of $0.12 and a $50 million share buyback authorization.

UBS Group AG reduced its stake in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 35.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 274,851 shares of the company's stock after selling 151,305 shares during the period. UBS Group AG owned approximately 0.35% of LandBridge worth $13,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Comerica Bank grew its position in 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 period. NewEdge Advisors LLC grew its position in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company's stock worth $27,000 after purchasing an additional 209 shares during the period. Geode Capital Management LLC boosted its stake in shares of LandBridge by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company's stock worth $1,958,000 after acquiring an additional 230 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of LandBridge by 12.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company's stock worth $183,000 after acquiring an additional 301 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of LandBridge by 9.7% during the 3rd quarter. Arizona State Retirement System now owns 5,582 shares of the company's stock worth $298,000 after acquiring an additional 493 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on LB. 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 reissued a "hold (c)" rating on shares of LandBridge in a research note on Wednesday, April 8th. Piper Sandler reissued a "neutral" rating and set a $66.00 target price (up from $65.00) on shares of LandBridge in a research note on Friday, May 8th. Barclays increased their target price on shares of LandBridge from $57.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 27th. Finally, Wells Fargo & Company increased their target price 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. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $76.17.

Insiders Place Their Bets

In related news, Director Charles L. Watson sold 30,680 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $74.07, for a total value of $2,272,467.60. Following the transaction, the director directly owned 86,920 shares of the company's stock, valued at approximately $6,438,164.40. This trade represents a 26.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 53,350 shares of company stock valued at $3,974,555. Company insiders own 70.42% of the company's stock.

LandBridge Trading Up 0.0%

Shares of LandBridge stock opened at $67.38 on Friday. The firm has a market capitalization of $5.19 billion, a PE ratio of 69.46 and a beta of 0.14. LandBridge Company LLC has a twelve month low of $43.75 and a twelve month high of $87.60. The firm's 50-day moving average price is $69.57 and its 200 day moving average price is $62.83. 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 (NYSE:LB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.44). The company had revenue of $51.01 million during the quarter, compared to analysts' expectations of $58.72 million. LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. On average, sell-side analysts predict that LandBridge Company LLC will post 1.48 EPS for the current fiscal year.

LandBridge Dividend Announcement

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

LandBridge declared that its Board of Directors has authorized a share buyback 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.

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