5,000 Shares in LandBridge Co LLC (NYSE:LB) Bought by Segment Wealth Management LLC

Segment Wealth Management LLC bought a new stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,000 shares of the company's stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC raised its holdings in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company's stock valued at $203,067,000 after acquiring an additional 484,968 shares in the last quarter. FMR LLC grew its stake in 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 purchasing an additional 686,070 shares during the period. Schwartz Investment Counsel Inc. grew its stake in LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company's stock worth $16,515,000 after purchasing an additional 363,345 shares during the period. Mad River Investors grew its stake in LandBridge by 0.4% in the fourth quarter. Mad River Investors now owns 233,452 shares of the company's stock worth $15,081,000 after purchasing an additional 902 shares during the period. Finally, Raymond James & Associates grew its stake in LandBridge by 9.2% in the third quarter. Raymond James & Associates now owns 229,350 shares of the company's stock worth $8,972,000 after purchasing an additional 19,350 shares during the period.

Wall Street Analyst Weigh In

LB has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a "buy" rating and issued a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. Barclays increased their target price on LandBridge from $38.00 to $79.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. Royal Bank of Canada reissued an "underperform" rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Piper Sandler increased their target price on LandBridge from $39.00 to $79.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.67.

LandBridge Stock Down 3.6 %

LB traded down $3.02 on Wednesday, hitting $79.68. 655,113 shares of the company's stock traded hands, compared to its average volume of 584,662. The company's 50 day simple moving average is $68.10 and its 200-day simple moving average is $50.62. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge Co LLC has a one year low of $18.75 and a one year high of $84.70.

LandBridge (NYSE:LB - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.24). The firm had revenue of $28.49 million during the quarter, compared to analysts' expectations of $35.50 million. On average, equities analysts expect that LandBridge Co LLC will post 0.99 EPS for the current fiscal year.

LandBridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, December 5th.

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.