LandBridge (NYSE:LB) Trading 5.8% Higher - Should You Buy?

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) shares traded up 5.8% during mid-day trading on Tuesday . The company traded as high as $57.51 and last traded at $58.07. 268,432 shares were traded during trading, a decline of 54% from the average session volume of 587,968 shares. The stock had previously closed at $54.87.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Barclays lowered their price objective on LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Finally, Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $65.86.

LandBridge Stock Down 2.1%

The firm has a 50 day simple moving average of $65.38 and a 200-day simple moving average of $69.25. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 15.58 and a beta of 0.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.70 and a quick ratio of 3.70.

LandBridge Announces Dividend

The company 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. The ex-dividend date was Thursday, June 5th. This represents a $0.40 annualized dividend and a yield of 0.7%. LandBridge's dividend payout ratio (DPR) is currently 11.24%.

Insider Transactions at LandBridge

In related news, 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 value of $142,975,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 70.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LandBridge

Several hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE acquired a new position in LandBridge in the first quarter valued at about $28,000. Uniplan Investment Counsel Inc. acquired a new position in LandBridge in the first quarter valued at about $30,000. Banque Transatlantique SA acquired a new position in LandBridge in the first quarter valued at about $34,000. Deutsche Bank AG acquired a new position in LandBridge in the first quarter valued at about $55,000. Finally, Comerica Bank lifted its stake 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 buying an additional 265 shares during the period.

LandBridge Company Profile

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.