HighTower Advisors LLC Has $4.14 Million Stake in LandBridge Co LLC (NYSE:LB)

HighTower Advisors LLC cut its stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) by 6.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,034 shares of the company's stock after selling 4,615 shares during the period. HighTower Advisors LLC owned about 0.09% of LandBridge worth $4,137,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC bought a new position in LandBridge during the third quarter valued at approximately $383,000. Horizon Kinetics Asset Management LLC raised its holdings in shares of LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company's stock valued at $203,067,000 after purchasing an additional 484,968 shares in the last quarter. FMR LLC raised its holdings 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 purchasing an additional 686,070 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of LandBridge in the 3rd quarter valued at $168,000. Finally, Verition Fund Management LLC bought a new stake in LandBridge in the third quarter worth $536,000.

LandBridge Stock Performance

NYSE:LB traded up $4.47 during trading hours on Monday, hitting $81.52. 600,070 shares of the company traded hands, compared to its average volume of 489,975. 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 Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70. The firm has a 50-day moving average of $70.03 and a 200 day moving average of $61.47. The stock has a market capitalization of $5.96 billion and a price-to-earnings ratio of 22.90.

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LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Thursday, March 6th. LandBridge's dividend payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler reduced their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Raymond James boosted their target price on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Royal Bank of Canada reiterated an "underperform" rating and set a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Wells Fargo & Company set a $82.00 price objective on shares of LandBridge and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. One research 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, LandBridge currently has a consensus rating of "Moderate Buy" and an average target price of $57.56.

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.