LandBridge (NYSE:LB) Sees Large Volume Increase - Still a Buy?

LandBridge Company LLC (NYSE:LB - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 967,399 shares changed hands during mid-day trading, an increase of 70% from the previous session's volume of 570,042 shares.The stock last traded at $50.84 and had previously closed at $52.79.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LB shares. Barclays set a $66.00 price objective on shares of LandBridge and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Wells Fargo & Company raised their price objective on shares of 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 boosted their price objective on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Finally, Johnson Rice lowered LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $59.11.

LandBridge Stock Performance

The stock has a market cap of $4.10 billion and a P/E ratio of 15.09. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.60. The stock has a 50 day simple moving average of $68.91 and a 200 day simple moving average of $70.01.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, June 5th. LandBridge's dividend payout ratio is currently 11.24%.

Insider Buying and Selling at LandBridge

In related news, Director David N. Capobianco sold 1,900,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $75.25, for a total transaction of $142,975,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 70.42% of the company's stock.

Institutional Investors Weigh In On LandBridge

Large investors have recently modified their holdings of the business. US Bancorp DE bought a new stake in shares of LandBridge during the 1st quarter worth $28,000. Uniplan Investment Counsel Inc. acquired a new position in LandBridge during the first quarter worth about $30,000. Banque Transatlantique SA bought a new position in shares of LandBridge in the first quarter worth about $34,000. Deutsche Bank AG bought a new position in shares of LandBridge in the first quarter worth about $55,000. Finally, Comerica Bank boosted its stake in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after purchasing an additional 265 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.