Ipswich Investment Management Co. Inc. Takes $1.02 Million Position in LandBridge Co LLC (NYSE:LB)

Ipswich Investment Management Co. Inc. purchased a new stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,757 shares of the company's stock, valued at approximately $1,018,000.

A number of other hedge funds have also modified their holdings of the company. Centiva Capital LP boosted its position in shares of LandBridge by 4.7% during the third quarter. Centiva Capital LP now owns 9,527 shares of the company's stock worth $373,000 after acquiring an additional 427 shares during the last quarter. Mad River Investors grew its position in shares of LandBridge by 0.4% during 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. KBC Group NV bought a new stake in shares of LandBridge in the fourth quarter worth about $72,000. Blue Trust Inc. purchased a new stake in shares of LandBridge in the fourth quarter worth about $110,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of LandBridge in the fourth quarter worth about $234,000.

Wall Street Analysts Forecast Growth

LB has been the topic of several recent research reports. Piper Sandler upped their price objective on LandBridge from $39.00 to $79.00 and gave the stock a "neutral" rating in a report on Monday, November 25th. Barclays upped their price target on shares of LandBridge from $38.00 to $79.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. The Goldman Sachs Group reissued a "buy" rating and issued a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Royal Bank of Canada restated an "underperform" rating and set a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Finally, Raymond James lifted 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.33.

LandBridge Trading Up 5.2 %

Shares of NYSE:LB traded up $3.22 during trading hours on Wednesday, hitting $64.59. 487,460 shares of the company's stock traded hands, compared to its average volume of 673,069. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average price of $68.38 and a 200-day moving average price of $57.29. LandBridge Co LLC has a 1 year low of $18.75 and a 1 year high of $84.70.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Thursday, March 6th.

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.