Commonwealth Equity Services LLC Makes New Investment in LandBridge Co LLC (NYSE:LB)

Commonwealth Equity Services LLC acquired a new stake in LandBridge Co LLC (NYSE:LB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,282 shares of the company's stock, valued at approximately $1,052,000.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its position in 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 buying an additional 686,070 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of LandBridge in the 4th quarter worth approximately $20,928,000. Burkehill Global Management LP bought a new stake in LandBridge during the 4th quarter worth approximately $15,262,000. Boston Financial Mangement LLC acquired a new stake in LandBridge during the 4th quarter valued at $15,276,000. Finally, Cortland Associates Inc. MO bought a new position in LandBridge in the 4th quarter valued at $9,727,000.

Wall Street Analyst Weigh In

LB has been the topic of several research analyst reports. Barclays increased their target price on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. 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. The Goldman Sachs Group upped their target price on shares of LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Raymond James increased their price target on shares of LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada restated an "underperform" rating and issued a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, LandBridge presently has an average rating of "Moderate Buy" and an average target price of $59.44.

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LandBridge Trading Up 3.1 %

Shares of LandBridge stock traded up $2.23 on Wednesday, hitting $74.86. 584,469 shares of the company's stock traded hands, compared to its average volume of 504,323. The firm's 50-day moving average price is $70.06 and its two-hundred day moving average price is $63.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $5.48 billion and a PE ratio of 21.03. LandBridge Co LLC has a one year low of $18.75 and a one year high of $84.70.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.10 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. LandBridge's dividend payout ratio is presently 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.