Viking Fund Management LLC Boosts Stock Holdings in LandBridge Company LLC $LB

Key Points

• Viking Fund Management doubled its stake in LandBridge (NYSE:LB) in Q4, buying 40,000 additional shares to hold 80,000 shares worth roughly $3.92M, and several other institutions also materially increased positions.
• LandBridge raised its quarterly dividend to $0.12 (annualized $0.48, ~0.7% yield) and the board authorized a $50 million share buyback plan, equal to about 1% of outstanding shares.
• Shares trade near $72.33 with a market cap of $5.58B and a high P/E of 76.95; analyst coverage is mixed (consensus "Hold", average target $76) and insiders have recently been net buyers while owning ~70% of the stock.

Viking Fund Management LLC lifted its holdings in LandBridge Company LLC (NYSE:LB - Free Report) by 100.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 80,000 shares of the company's stock after purchasing an additional 40,000 shares during the period. Viking Fund Management LLC owned about 0.10% of LandBridge worth $3,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LB. Atlas Wealth Partners LLC raised its stake in LandBridge by 90.3% in the third quarter. Atlas Wealth Partners LLC now owns 35,038 shares of the company's stock worth $1,869,000 after buying an additional 16,623 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of LandBridge in the 2nd quarter valued at $927,000. Cortland Associates Inc. MO raised its position in shares of LandBridge by 172.0% in the 3rd quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company's stock worth $22,004,000 after acquiring an additional 260,812 shares in the last quarter. Advisory Services Network LLC raised its position in shares of LandBridge by 476.0% in the 2nd quarter. Advisory Services Network LLC now owns 86,030 shares of the company's stock worth $5,814,000 after acquiring an additional 71,095 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of LandBridge by 11.4% during the 3rd quarter. Moors & Cabot Inc. now owns 196,379 shares of the company's stock worth $10,477,000 after purchasing an additional 20,115 shares during the last quarter.

LandBridge Price Performance

Shares of NYSE:LB opened at $72.33 on Wednesday. LandBridge Company LLC has a twelve month low of $43.75 and a twelve month high of $87.60. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70. The company has a market cap of $5.58 billion, a PE ratio of 76.95 and a beta of 0.11. The company's 50 day moving average is $65.19 and its 200 day moving average is $59.34.

LandBridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This is a positive change from LandBridge's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.7%. LandBridge's dividend payout ratio is currently 51.06%.

LandBridge declared that its board has authorized a stock repurchase plan on Wednesday, February 25th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays lifted their target price on LandBridge from $57.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 27th. Zacks Research upgraded shares of LandBridge from a "strong sell" rating to a "hold" rating in a report on Monday. Weiss Ratings reiterated a "hold (c)" rating on shares of LandBridge in a research note on Friday, January 9th. The Goldman Sachs Group increased their target price on shares of LandBridge from $69.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Finally, Raymond James Financial downgraded shares of LandBridge from a "moderate buy" rating to a "strong sell" rating in a research note on Friday, December 5th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, LandBridge presently has a consensus rating of "Hold" and an average target price of $76.00.

Insiders Place Their Bets

In related news, insider Jason Thomas Long acquired 2,143 shares of LandBridge stock in a transaction on Monday, January 5th. The stock was acquired at an average price of $46.59 per share, for a total transaction of $99,842.37. Following the purchase, the insider owned 223,546 shares of the company's stock, valued at approximately $10,415,008.14. This represents a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Harrison Fenner Bolling bought 850 shares of the stock in a transaction dated Monday, January 5th. The stock was bought at an average price of $46.84 per share, for a total transaction of $39,814.00. Following the purchase, the insider directly owned 66,874 shares of the company's stock, valued at approximately $3,132,378.16. The trade was a 1.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 3,542 shares of company stock valued at $164,630 and have sold 53,350 shares valued at $3,974,555. 70.42% of the stock is owned by insiders.

LandBridge 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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