Cortland Associates Inc. MO Takes Position in LandBridge Co LLC (NYSE:LB)

Cortland Associates Inc. MO purchased a new stake in LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 150,573 shares of the company's stock, valued at approximately $9,727,000. LandBridge comprises approximately 1.1% of Cortland Associates Inc. MO's portfolio, making the stock its 22nd biggest position. Cortland Associates Inc. MO owned 0.21% of LandBridge as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in LB. Horizon Kinetics Asset Management LLC increased 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 worth $203,067,000 after acquiring an additional 484,968 shares in the last quarter. FMR LLC grew its position in 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 purchasing an additional 686,070 shares in the last quarter. Schwartz Investment Counsel Inc. raised its stake in 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 lifted its holdings in shares of LandBridge by 0.4% in the fourth quarter. Mad River Investors now owns 233,452 shares of the company's stock valued at $15,081,000 after purchasing an additional 902 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of LandBridge by 9.2% in the third quarter. Raymond James & Associates now owns 229,350 shares of the company's stock worth $8,972,000 after buying an additional 19,350 shares during the period.

Analyst Ratings Changes

Several research analysts recently weighed in on LB shares. Barclays upped their price target on LandBridge from $38.00 to $79.00 and gave the company an "equal weight" rating in a research report on Friday, January 17th. 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 research report on Monday, November 25th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $71.00 price objective on shares of LandBridge in a research report on Friday, January 3rd. Raymond James increased their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and issued a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. One equities 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $53.33.

LandBridge Stock Down 3.3 %

NYSE LB traded down $2.27 during trading on Thursday, hitting $65.83. 1,054,904 shares of the company traded hands, compared to its average volume of 721,216. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $84.70. The business has a fifty day simple moving average of $68.53 and a 200 day simple moving average of $52.09. The company has a market capitalization of $4.82 billion and a P/E ratio of 18.61. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge (NYSE:LB - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.24). The company had revenue of $28.49 million during the quarter, compared to analyst estimates of $35.50 million. As a group, sell-side analysts predict that LandBridge Co LLC will post 0.99 EPS for the current year.

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, December 5th. 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.