Ghisallo Capital Management LLC Purchases 199,875 Shares of LandBridge Co LLC (NYSE:LB)

Ghisallo Capital Management LLC lifted its stake in LandBridge Co LLC (NYSE:LB - Free Report) by 399.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,875 shares of the company's stock after purchasing an additional 199,875 shares during the period. LandBridge accounts for 0.9% of Ghisallo Capital Management LLC's portfolio, making the stock its 19th largest position. Ghisallo Capital Management LLC owned 0.34% of LandBridge worth $16,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairway Wealth LLC acquired a new stake in shares of 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 fourth quarter valued at approximately $52,000. KBC Group NV acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $72,000. Blue Trust Inc. acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $110,000. Finally, Barclays PLC acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $180,000.

Wall Street Analyst Weigh In

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

LandBridge Price Performance

NYSE LB traded up $2.14 during midday trading on Monday, hitting $74.14. The company had a trading volume of 595,946 shares, compared to its average volume of 506,202. The company has a market capitalization of $5.42 billion and a PE ratio of 20.83. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $69.03 and a 200-day moving average price of $66.77. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. LandBridge's payout ratio is 11.24%.

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.