Fmr LLC Has $127.29 Million Stake in LandBridge Co LLC (NYSE:LB)

FMR LLC lowered its stake in LandBridge Co LLC (NYSE:LB - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,970,455 shares of the company's stock after selling 407,666 shares during the quarter. FMR LLC owned about 2.69% of LandBridge worth $127,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fairway Wealth LLC bought a new position in LandBridge in the fourth quarter valued at approximately $50,000. Generali Investments Management Co LLC acquired a new stake in shares of LandBridge in the 4th quarter valued at approximately $52,000. Mad River Investors grew its stake 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 buying an additional 902 shares in the last quarter. KBC Group NV bought a new stake in shares of LandBridge in the 4th quarter valued at about $72,000. Finally, Blue Trust Inc. acquired a new stake in LandBridge in the 4th quarter valued at about $110,000.

Analyst Upgrades and Downgrades

LB has been the topic of a number of recent analyst reports. Raymond James boosted their price target on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. The Goldman Sachs Group boosted their target price on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the company an "overweight" rating in a report on Friday, March 7th. Barclays increased their price objective on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, March 21st. Finally, Piper Sandler lowered their price target on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a 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 issued a buy rating to the company. Based on data from MarketBeat, LandBridge currently has an average rating of "Moderate Buy" and an average price target of $59.44.

LandBridge Price Performance

NYSE:LB traded up $1.45 during trading hours on Friday, reaching $69.10. 276,637 shares of the company were exchanged, compared to its average volume of 510,542. The company has a market capitalization of $5.05 billion and a P/E ratio of 19.41. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70. The business has a 50 day moving average of $69.16 and a 200 day moving average of $65.48.

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 paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.58%. The ex-dividend date was Thursday, March 6th. LandBridge's payout ratio is 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.