LandBridge Company LLC (LB) To Go Ex-Dividend on June 4th

LandBridge Company LLC (NYSE:LB) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Thursday, June 4th will be given a dividend of 0.12 per share on Thursday, June 18th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend 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 Performance

NYSE:LB opened at $63.72 on Friday. The firm has a 50 day moving average of $70.11 and a 200-day moving average of $62.50. LandBridge has a 1 year low of $43.75 and a 1 year high of $87.60. The stock has a market capitalization of $4.91 billion, a P/E ratio of 67.79 and a beta of 0.14. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70.

Insider Activity

In other LandBridge news, Director Charles L. Watson sold 13,000 shares of LandBridge stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $75.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 53,350 shares of company stock valued at $3,974,555. Company insiders own 70.42% of the company’s stock.

Hedge Funds Weigh In On LandBridge

Several hedge funds and other institutional investors have recently made changes to their positions in LB. Atlas Wealth Partners LLC boosted its holdings in shares of LandBridge by 90.3% during the third quarter. Atlas Wealth Partners LLC now owns 35,038 shares of the company’s stock worth $1,869,000 after acquiring an additional 16,623 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of LandBridge by 11.4% during the third quarter. Moors & Cabot Inc. now owns 196,379 shares of the company’s stock worth $10,477,000 after acquiring an additional 20,115 shares during the period. Cortland Associates Inc. MO boosted its holdings in shares of LandBridge by 172.0% during the third quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock worth $22,004,000 after acquiring an additional 260,812 shares during the period. Viking Fund Management LLC boosted its holdings in shares of LandBridge by 100.0% during the fourth quarter. Viking Fund Management LLC now owns 80,000 shares of the company’s stock worth $3,919,000 after acquiring an additional 40,000 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of LandBridge during the third quarter worth approximately $1,842,000.

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