LandBridge (NYSE:LB) Sees Strong Trading Volume - What's Next?

LandBridge Company LLC (NYSE:LB - Get Free Report) 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 research analysts have commented on the company. Wells Fargo & Company boosted their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Barclays dropped their target price on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Finally, Johnson Rice cut 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 issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $65.86.

LandBridge Trading Down 2.4%

The company has a 50-day moving average price of $67.82 and a 200-day moving average price of $69.74. The firm has a market capitalization of $4.21 billion and a price-to-earnings ratio of 15.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.70 and a current ratio of 3.70.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, June 5th. LandBridge's payout ratio is 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 on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction of $142,975,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 70.42% of the company's stock.

Institutional Investors Weigh In On LandBridge

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of LandBridge during the 2nd quarter valued at approximately $338,000. Apollon Wealth Management LLC acquired a new position in LandBridge during the second quarter worth $673,000. Gunderson Capital Management Inc. acquired a new position in LandBridge during the second quarter worth $2,737,000. Kingswood Wealth Advisors LLC raised its stake in shares of LandBridge by 50.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 44,891 shares of the company's stock worth $3,034,000 after buying an additional 15,136 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in shares of LandBridge by 28.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 3,600 shares of the company's stock worth $243,000 after buying an additional 800 shares during the last quarter.

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.