Burkehill Global Management LP bought a new stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 249,875 shares of the company's stock, valued at approximately $15,262,000. LandBridge comprises 1.5% of Burkehill Global Management LP's investment portfolio, making the stock its 22nd largest holding. Burkehill Global Management LP owned approximately 0.34% of LandBridge at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC grew its stake in shares of LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company's stock worth $93,032,000 after acquiring an additional 686,070 shares during the period. Horizon Kinetics Asset Management LLC boosted its holdings in LandBridge by 10.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company's stock worth $203,067,000 after purchasing an additional 484,968 shares during the last quarter. Raymond James Financial Inc. bought a new stake in LandBridge in the 4th quarter worth approximately $20,928,000. Boston Financial Mangement LLC purchased a new stake in LandBridge during the 4th quarter valued at $15,276,000. Finally, Cortland Associates Inc. MO bought a new position in shares of LandBridge during the 4th quarter valued at $9,727,000.
LandBridge Trading Up 1.7 %
LandBridge stock opened at $69.37 on Thursday. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $84.70. The firm has a market capitalization of $5.07 billion and a price-to-earnings ratio of 19.49. The firm has a 50 day moving average of $69.42 and a 200 day moving average of $59.37. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.
LandBridge Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.58%. LandBridge's dividend payout ratio (DPR) is presently 11.24%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on LB. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $71.00 price objective on shares of LandBridge in a report on Friday, January 3rd. Royal Bank of Canada reissued an "underperform" rating and issued a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the company an "overweight" rating in a research report on Friday, March 7th. Barclays increased their price objective on shares of LandBridge from $38.00 to $79.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. Finally, Piper Sandler cut their target price on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.44.
Get Our Latest Stock Analysis on LB
LandBridge Company Profile
(
Free Report)
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.
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