LandBridge (NYSE:LB) Trading 3.2% Higher - Time to Buy?

Key Points

• LandBridge Company LLC (NYSE:LB) saw a stock increase of 3.2% trading at $53.78, but the trading volume was notably low, at 52,821 shares, a 91% decline from its average volume.
• Analysts have downgraded LandBridge, with Raymond James lowering their target price to $75 and Barclays to $66, while Wells Fargo raised theirs to $93, reflecting mixed expectations.
• The company has announced a quarterly dividend of $0.10 per share, representing a yield of 0.7%, with the payment date set for September 18th.

LandBridge Company LLC (NYSE:LB - Get Free Report)'s stock price was up 3.2% on Thursday . The company traded as high as $53.70 and last traded at $53.78. Approximately 52,821 shares traded hands during trading, a decline of 91% from the average daily volume of 590,242 shares. The stock had previously closed at $52.13.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company increased 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. Piper Sandler dropped their price objective on LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday. Barclays decreased their target price on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Finally, Raymond James Financial reduced their price objective on LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, LandBridge presently has an average rating of "Hold" and an average target price of $62.29.

LandBridge Stock Performance

The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $4.12 billion, a P/E ratio of 15.13 and a beta of 0.32. The stock has a fifty day simple moving average of $60.60 and a 200-day simple moving average of $67.66.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, September 4th. LandBridge's payout ratio is 11.24%.

Insider Activity

In other news, Director David N. Capobianco sold 1,900,000 shares of LandBridge 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 70.42% of the company's stock.

Institutional Investors Weigh In On LandBridge

Large investors have recently made changes to their positions in the stock. LPL Financial LLC lifted its position in LandBridge by 88.4% in the 4th quarter. LPL Financial LLC now owns 10,509 shares of the company's stock valued at $679,000 after acquiring an additional 4,931 shares in the last quarter. Geode Capital Management LLC acquired a new position in shares of LandBridge during the fourth quarter worth about $1,180,000. Wells Fargo & Company MN grew its holdings in shares of LandBridge by 208.4% during the fourth quarter. Wells Fargo & Company MN now owns 19,736 shares of the company's stock worth $1,275,000 after buying an additional 13,336 shares in the last quarter. Legal & General Group Plc acquired a new stake in LandBridge in the 4th quarter valued at approximately $689,000. Finally, Rockefeller Capital Management L.P. bought a new stake in LandBridge in the 4th quarter valued at approximately $749,000.

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.