LandBridge (NYSE:LB) Stock Price Up 5.8% - Here's What Happened

Key Points

• LandBridge shares saw a significant increase of 5.8%, reaching a last trading price of $58.07, although trading volume was down by 54% compared to the average.
• Analysts are divided on LandBridge's prospects, with one downgrade and several price target adjustments: Barclays set a new target of $66.00, while Wells Fargo increased theirs to $93.00.
• The company has announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.69%, with a low payout ratio of 11.24%.

LandBridge Company LLC (NYSE:LB - Get Free Report) traded up 5.8% during trading on Tuesday . The stock traded as high as $57.51 and last traded at $58.07. 268,432 shares traded hands during trading, a decline of 54% from the average session volume of 587,968 shares. The stock had previously closed at $54.87.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays decreased their price objective on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Finally, Johnson Rice cut shares of 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $65.86.

LandBridge Stock Performance

The company has a market cap of $4.29 billion and a PE ratio of 15.76. The firm's fifty day moving average is $66.27 and its 200 day moving average is $69.45. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.60.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 5th. LandBridge's payout ratio is presently 11.24%.

Insider Buying and Selling

In related news, Director David N. Capobianco sold 1,900,000 shares of the business'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 70.42% of the company's stock.

Institutional Investors Weigh In On LandBridge

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