Annex Advisory Services LLC acquired a new stake in LandBridge Co LLC (NYSE:LB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,041 shares of the company's stock, valued at approximately $1,165,000.
Several other hedge funds have also recently modified their holdings of the company. FMR LLC raised its position in shares of LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company's stock valued at $93,032,000 after purchasing an additional 686,070 shares during the period. Horizon Kinetics Asset Management LLC grew its position in shares of LandBridge by 10.3% in 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 purchasing an additional 484,968 shares in the last quarter. Schwartz Investment Counsel Inc. raised its stake in shares of LandBridge by 617.7% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company's stock valued at $16,515,000 after purchasing an additional 363,345 shares during the period. Mad River Investors bought a new position in LandBridge in the 3rd quarter worth about $9,097,000. Finally, Moors & Cabot Inc. purchased a new position in LandBridge during the 3rd quarter valued at about $4,302,000.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of LandBridge from $39.00 to $79.00 and gave the stock a "neutral" rating in a report on Monday, November 25th. Barclays raised their price target on shares of LandBridge from $38.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Finally, Royal Bank of Canada reissued an "underperform" rating and set a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.67.
Read Our Latest Stock Analysis on LandBridge
LandBridge Price Performance
NYSE:LB traded up $7.77 during mid-day trading on Tuesday, reaching $82.52. The stock had a trading volume of 1,605,123 shares, compared to its average volume of 578,724. LandBridge Co LLC has a one year low of $18.75 and a one year high of $82.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a 50 day moving average price of $67.67 and a two-hundred day moving average price of $50.03.
LandBridge (NYSE:LB - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.24). The firm had revenue of $28.49 million for the quarter, compared to the consensus estimate of $35.50 million. On average, sell-side analysts forecast that LandBridge Co LLC will post 0.99 EPS for the current fiscal year.
LandBridge Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.48%.
LandBridge Profile
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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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