LandBridge Company LLC $LB Shares Acquired by Viking Fund Management LLC

Viking Fund Management LLC boosted its holdings in shares of LandBridge Company LLC (NYSE:LB) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,000 shares of the company’s stock after purchasing an additional 40,000 shares during the quarter. Viking Fund Management LLC’s holdings in LandBridge were worth $3,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cortland Associates Inc. MO boosted its holdings in LandBridge by 172.0% in the 3rd quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock worth $22,004,000 after buying an additional 260,812 shares during the last quarter. UBS Group AG boosted its holdings in shares of LandBridge by 88.6% during the 3rd quarter. UBS Group AG now owns 426,156 shares of the company’s stock worth $22,735,000 after purchasing an additional 200,231 shares during the last quarter. EagleClaw Capital Managment LLC grew its position in shares of LandBridge by 78.3% in the third quarter. EagleClaw Capital Managment LLC now owns 202,340 shares of the company’s stock valued at $10,795,000 after purchasing an additional 88,875 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of LandBridge by 476.0% in the second quarter. Advisory Services Network LLC now owns 86,030 shares of the company’s stock valued at $5,814,000 after purchasing an additional 71,095 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in LandBridge by 8.7% during the third quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after buying an additional 68,343 shares in the last quarter.

Insider Activity

In related news, insider Jason Thomas Long acquired 2,143 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were purchased at an average cost of $46.59 per share, for a total transaction of $99,842.37. Following the acquisition, the insider owned 223,546 shares in the company, valued at $10,415,008.14. The trade was a 0.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles L. Watson sold 13,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $75.00, for a total transaction of $975,000.00. Following the transaction, the director directly owned 64,250 shares of the company’s stock, valued at $4,818,750. The trade was a 16.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 3,542 shares of company stock valued at $164,630 and have sold 53,350 shares valued at $3,974,555. Insiders own 70.42% of the company’s stock.

LandBridge Stock Performance

NYSE LB opened at $72.33 on Wednesday. The stock has a fifty day simple moving average of $65.19 and a 200-day simple moving average of $59.34. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70. The stock has a market cap of $5.58 billion, a PE ratio of 76.95 and a beta of 0.11. LandBridge Company LLC has a twelve month low of $43.75 and a twelve month high of $87.60.

LandBridge declared that its board has approved a stock buyback program on Wednesday, February 25th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

LandBridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were given a dividend of $0.12 per share. This is a boost from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, March 5th. LandBridge’s dividend payout ratio (DPR) is 51.06%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Raymond James Financial lowered shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a report on Friday, December 5th. Barclays raised their price objective on shares of LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Wells Fargo & Company boosted their target price on shares of LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Finally, The Goldman Sachs Group increased their price target on shares of LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.00.

LandBridge 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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.