David N. Capobianco Sells 1,900,000 Shares of LandBridge Co LLC (NYSE:LB) Stock

LandBridge Co LLC (NYSE:LB - Get Free Report) Director David N. Capobianco sold 1,900,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.

LandBridge Trading Down 3.4%

Shares of LB stock traded down $2.54 on Friday, hitting $71.61. The company had a trading volume of 599,165 shares, compared to its average volume of 498,051. The firm has a market cap of $5.24 billion and a P/E ratio of 20.12. The stock's 50-day moving average is $72.56 and its two-hundred day moving average is $70.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $87.60.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. LandBridge's payout ratio is 11.24%.

Institutional Investors Weigh In On LandBridge

Several institutional investors and hedge funds have recently made changes to their positions in LB. KBC Group NV acquired a new stake in shares of LandBridge in the fourth quarter valued at about $72,000. Cortland Associates Inc. MO acquired a new stake in shares of LandBridge in the fourth quarter valued at about $9,727,000. Stratos Wealth Partners LTD. acquired a new stake in shares of LandBridge in the fourth quarter valued at about $234,000. Atlas Wealth Partners LLC bought a new stake in shares of LandBridge during the 4th quarter valued at about $443,000. Finally, Schwartz Investment Counsel Inc. boosted its position in shares of LandBridge by 1.0% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock valued at $27,556,000 after purchasing an additional 4,400 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LB. Wells Fargo & Company upped their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. The Goldman Sachs Group upped their price objective on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Barclays upped their price objective on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. Piper Sandler lowered their target price on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Finally, Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, LandBridge presently has an average rating of "Moderate Buy" and an average price target of $60.67.

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.