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

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

LandBridge Trading Up 1.7%

Shares of LB traded up $1.24 during trading hours on Monday, hitting $72.69. The company had a trading volume of 305,842 shares, compared to its average volume of 497,222. The firm has a market cap of $5.32 billion and a P/E ratio of 20.42. The stock's 50 day moving average price is $72.44 and its 200 day moving average price is $70.14. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $87.60.

LandBridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 annualized dividend and a yield of 0.55%. LandBridge's payout ratio is 11.24%.

Institutional Trading of LandBridge

Several large investors have recently bought and sold shares of LB. Comerica Bank boosted its position in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after purchasing an additional 265 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its position in shares of LandBridge by 2.1% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company's stock worth $950,000 after purchasing an additional 275 shares in the last quarter. US Bancorp DE bought a new stake in shares of LandBridge in the 1st quarter worth approximately $28,000. Uniplan Investment Counsel Inc. bought a new stake in shares of LandBridge in the 1st quarter worth approximately $30,000. Finally, Banque Transatlantique SA bought a new stake in shares of LandBridge in the 1st quarter worth approximately $34,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LB shares. Wells Fargo & Company upped their target price on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays raised their price target on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. The Goldman Sachs Group increased their target price on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Finally, Piper Sandler dropped their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, LandBridge currently has an average rating of "Moderate Buy" and an average target price 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.