LandBridge Co LLC (NYSE:LB) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in LandBridge Co LLC (NYSE:LB - Free Report) by 370.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,649 shares of the company's stock after acquiring an additional 54,048 shares during the quarter. HighTower Advisors LLC owned 0.09% of LandBridge worth $2,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Centiva Capital LP boosted its position in LandBridge by 4.7% in the third quarter. Centiva Capital LP now owns 9,527 shares of the company's stock worth $373,000 after purchasing an additional 427 shares during the last quarter. Flow Traders U.S. LLC bought a new position in LandBridge in the third quarter worth approximately $600,000. Verition Fund Management LLC bought a new position in LandBridge in the third quarter worth approximately $536,000. BNP Paribas Financial Markets bought a new stake in shares of LandBridge during the 3rd quarter valued at $168,000. Finally, FMR LLC grew its position in shares of LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company's stock valued at $93,032,000 after acquiring an additional 686,070 shares during the period.

Analyst Ratings Changes

Several research firms recently weighed in on LB. Piper Sandler lifted their target price on LandBridge from $39.00 to $79.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. The Goldman Sachs Group increased their target price on shares of LandBridge from $38.00 to $43.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an "underperform" rating and set a $25.00 price target on shares of LandBridge in a report on Tuesday. Citigroup upped their price target on shares of LandBridge from $31.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Finally, Barclays lifted their target price on shares of LandBridge from $29.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $40.00.

LandBridge Stock Performance

NYSE LB traded up $0.07 on Friday, reaching $60.18. The company had a trading volume of 353,501 shares, compared to its average volume of 400,322. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $80.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock's 50 day moving average is $61.69.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, December 5th.

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.