Cannell & Spears LLC Makes New Investment in LandBridge Co LLC (NYSE:LB)

Cannell & Spears LLC purchased a new stake in LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,910 shares of the company's stock, valued at approximately $640,000.

Other institutional investors have also made changes to their positions in the company. Horizon Kinetics Asset Management LLC grew its stake in LandBridge by 4.0% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock worth $348,793,000 after buying an additional 208,408 shares in the last quarter. FMR LLC lifted its holdings in shares of LandBridge by 40.5% during the 3rd 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. Vanguard Group Inc. acquired a new stake in shares of LandBridge during the 4th quarter worth approximately $38,480,000. Schwartz Investment Counsel Inc. raised its position in LandBridge by 1.0% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock valued at $27,556,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in LandBridge during the fourth quarter worth $20,928,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LB shares. Barclays boosted their price target on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Raymond James boosted their target price on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. Piper Sandler lowered their price objective 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. Finally, The Goldman Sachs Group increased their price objective on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.44.

LandBridge Trading Down 10.4 %

NYSE LB traded down $6.88 on Friday, hitting $59.49. The company's stock had a trading volume of 1,618,228 shares, compared to its average volume of 512,231. The company's 50-day moving average is $69.42 and its 200 day moving average is $63.71. The firm has a market cap of $4.35 billion and a PE ratio of 16.71. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge's dividend payout ratio is currently 11.24%.

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.