LandBridge Company LLC to Issue Quarterly Dividend of $0.12 (NYSE:LB)

LandBridge Company LLC (NYSE:LB) announced a quarterly dividend on Wednesday, May 6th. Shareholders of record on Thursday, June 4th will be given a dividend of 0.12 per share on Thursday, June 18th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, June 4th.

LandBridge has a payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect LandBridge to earn $3.91 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 12.3%.

LandBridge Stock Down 0.5%

NYSE:LB opened at $65.83 on Thursday. The firm has a market cap of $5.07 billion, a P/E ratio of 70.03 and a beta of 0.14. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.87 and a current ratio of 4.87. LandBridge has a fifty-two week low of $43.75 and a fifty-two week high of $87.60. The firm has a 50-day simple moving average of $70.16 and a two-hundred day simple moving average of $62.44.

Insider Activity

In other news, Director Charles L. Watson sold 13,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.00, for a total transaction of $975,000.00. Following the sale, the director owned 64,250 shares of the company’s stock, valued at $4,818,750. This trade represents a 16.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 53,350 shares of company stock worth $3,974,555. Company insiders own 70.42% of the company’s stock.

Institutional Trading of LandBridge

A number of institutional investors have recently made changes to their positions in the stock. First Manhattan CO. LLC. boosted its holdings in shares of LandBridge by 24.0% during the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after acquiring an additional 1,330,099 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of LandBridge by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock valued at $45,602,000 after acquiring an additional 68,343 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of LandBridge during the 4th quarter valued at about $33,817,000. Schwartz Investment Counsel Inc. boosted its holdings in shares of LandBridge by 2.3% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock valued at $29,046,000 after acquiring an additional 13,128 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of LandBridge by 11.4% during the 3rd quarter. Raymond James Financial Inc. now owns 453,423 shares of the company’s stock valued at $24,190,000 after acquiring an additional 46,567 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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.