LandBridge Co LLC (NYSE:LB - Get Free Report) dropped 3.8% during trading on Thursday after an insider sold shares in the company. The company traded as low as $74.09 and last traded at $73.28. Approximately 61,748 shares traded hands during mid-day trading, a decline of 88% from the average daily 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 firm's stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Piper Sandler dropped their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Barclays lifted their target price on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, March 21st. Johnson Rice lowered shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Wells Fargo & Company raised their target price on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group upped their price target on shares of LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.
Check Out Our Latest Research Report on LB
LandBridge Stock Performance
The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $72.56 and a two-hundred day moving average price of $70.11. The firm has a market cap of $5.32 billion and a PE ratio of 20.42.
LandBridge Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. LandBridge's payout ratio is 11.24%.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Horizon Kinetics Asset Management LLC increased its holdings in LandBridge by 4.0% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock valued at $348,793,000 after purchasing an additional 208,408 shares during the last quarter. First Manhattan CO. LLC. raised its holdings in shares of LandBridge by 3.1% in the 1st quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company's stock valued at $201,303,000 after buying an additional 84,701 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in LandBridge by 5,290.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company's stock worth $85,845,000 after acquiring an additional 1,171,142 shares in the last quarter. Vanguard Group Inc. lifted its stake in LandBridge by 17.1% during the 1st quarter. Vanguard Group Inc. now owns 697,748 shares of the company's stock worth $50,196,000 after acquiring an additional 102,085 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new position in LandBridge during the 4th quarter valued at about $41,431,000.
About LandBridge
(
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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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