LandBridge Co LLC (NYSE:LB - Get Free Report) traded down 3.8% during trading on Thursday following insider selling activity. The company traded as low as $74.09 and last traded at $73.28. 61,748 shares were traded during trading, a decline of 88% from the average session volume of 496,496 shares. The stock had previously closed at $76.14.
Specifically, Director David N. Capobianco sold 1,900,000 shares of the company'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 document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on LB shares. Wells Fargo & Company increased their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays increased their price objective on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Piper Sandler dropped their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group raised their price objective on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Finally, Johnson Rice downgraded 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 given a buy rating to the company's stock. According to data from MarketBeat, LandBridge currently has a consensus rating of "Moderate Buy" and an average price target of $60.67.
Read Our Latest Report on LB
LandBridge Price Performance
The firm has a market capitalization of $5.24 billion and a PE ratio of 20.12. The stock has a 50-day moving average price of $72.56 and a 200 day moving average price of $70.09. 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be given 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 dividend payout ratio is currently 11.24%.
Hedge Funds Weigh In On LandBridge
Several institutional investors have recently added to or reduced their stakes in the business. Comerica Bank boosted its holdings in LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after purchasing an additional 265 shares during the last quarter. Pekin Hardy Strauss Inc. increased its position in LandBridge by 2.1% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company's stock valued at $950,000 after acquiring an additional 275 shares during the period. US Bancorp DE acquired a new position in shares of LandBridge during the 1st quarter valued at $28,000. Uniplan Investment Counsel Inc. acquired a new position in shares of LandBridge during the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA bought a new stake in shares of LandBridge during the 1st quarter worth $34,000.
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.
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