LandBridge Company LLC (NYSE:LB - Get Free Report) announced a quarterly dividend on Wednesday, May 6th. Shareholders of record on Thursday, June 4th will be given a dividend of 0.12 per share on Thursday, June 18th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, June 4th.
LandBridge has a payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect LandBridge to earn $3.91 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 12.3%.
LandBridge Price Performance
NYSE:LB opened at $65.83 on Thursday. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.70. The business's 50-day simple moving average is $70.16 and its two-hundred day simple moving average is $62.44. The stock has a market cap of $5.07 billion, a PE ratio of 70.03 and a beta of 0.14. LandBridge has a 52 week low of $43.75 and a 52 week high of $87.60.
Insider Buying and Selling
In related news, Director Charles L. Watson sold 30,680 shares of LandBridge stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $74.07, for a total value of $2,272,467.60. Following the completion of the transaction, the director owned 86,920 shares in the company, valued at approximately $6,438,164.40. This trade represents a 26.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 53,350 shares of company stock valued at $3,974,555 in the last ninety days. Company insiders own 70.42% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in LB. NewEdge Advisors LLC grew its position in LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company's stock worth $27,000 after acquiring an additional 209 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in LandBridge in the fourth quarter worth about $33,000. Quattro Advisors LLC purchased a new position in LandBridge in the fourth quarter worth about $36,000. Galaxy Group Investments LLC purchased a new position in LandBridge in the fourth quarter worth about $36,000. Finally, CIBC Private Wealth Group LLC bought a new stake in LandBridge in the fourth quarter worth about $40,000.
About LandBridge
(
Get Free Report)
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.
Further Reading
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