Independent Advisor Alliance Invests $329,000 in LandBridge Co LLC (NYSE:LB)

Independent Advisor Alliance bought a new position in LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,093 shares of the company's stock, valued at approximately $329,000.

A number of other institutional investors have also added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new position in shares of LandBridge in the 4th quarter worth about $3,674,000. EagleClaw Capital Managment LLC boosted its holdings in shares of LandBridge by 321.8% in the 4th quarter. EagleClaw Capital Managment LLC now owns 99,225 shares of the company's stock worth $6,410,000 after purchasing an additional 75,700 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of LandBridge in the 4th quarter worth about $20,928,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of LandBridge by 174.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,651 shares of the company's stock worth $300,000 after purchasing an additional 2,955 shares in the last quarter. Finally, Sprott Inc. boosted its holdings in shares of LandBridge by 35.0% in the 4th quarter. Sprott Inc. now owns 65,232 shares of the company's stock worth $4,214,000 after purchasing an additional 16,909 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group reiterated 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 restated an "underperform" rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Raymond James increased their target price on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Barclays increased their target price on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday. Finally, Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an "overweight" rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given 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 price target of $57.56.

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LandBridge Trading Down 2.6 %

NYSE LB traded down $2.08 on Friday, hitting $77.61. The company's stock had a trading volume of 706,828 shares, compared to its average volume of 489,374. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $84.70. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The company's 50-day simple moving average is $70.03 and its 200 day simple moving average is $61.10. The firm has a market cap of $5.68 billion and a P/E ratio of 21.80.

LandBridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge's dividend payout ratio (DPR) is currently 11.24%.

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.