Cannell & Spears LLC Buys New Position in LandBridge Co LLC (NYSE:LB)

Cannell & Spears LLC purchased a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,910 shares of the company's stock, valued at approximately $640,000.

Several other institutional investors also recently modified their holdings of LB. Arrowstreet Capital Limited Partnership bought a new stake in shares of LandBridge during the fourth quarter worth about $1,933,000. Vanguard Group Inc. bought a new stake in LandBridge during the 4th quarter worth approximately $38,480,000. LPL Financial LLC increased its position in LandBridge by 88.4% in the 4th quarter. LPL Financial LLC now owns 10,509 shares of the company's stock valued at $679,000 after acquiring an additional 4,931 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of LandBridge during the fourth quarter valued at $181,000. Finally, Sei Investments Co. bought a new stake in shares of LandBridge in the fourth quarter worth $568,000.

LandBridge Stock Up 3.1 %

Shares of NYSE LB traded up $2.23 during trading on Wednesday, hitting $74.86. 584,469 shares of the company traded hands, compared to its average volume of 504,323. The firm has a market capitalization of $5.48 billion and a price-to-earnings ratio of 21.03. The business's fifty day moving average is $70.06 and its 200 day moving average is $63.54. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge Co LLC has a fifty-two week low of $18.75 and a fifty-two week high of $84.70.

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LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 annualized dividend and a yield of 0.53%. LandBridge's payout ratio is currently 11.24%.

Analyst Ratings Changes

LB has been the subject of several analyst reports. Barclays raised their target price on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. Raymond James lifted their price objective 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 target price on shares of LandBridge and gave the company an "overweight" rating in a research report on Friday, March 7th. Royal Bank of Canada restated an "underperform" rating and issued a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th. Finally, Piper Sandler decreased 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.44.

About LandBridge

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.