LandBridge Co LLC (NYSE:LB) Shares Acquired by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lifted its holdings in shares of LandBridge Co LLC (NYSE:LB - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,399,275 shares of the company's stock after purchasing an additional 208,408 shares during the period. LandBridge accounts for 4.3% of Horizon Kinetics Asset Management LLC's holdings, making the stock its 3rd biggest holding. Horizon Kinetics Asset Management LLC owned about 7.38% of LandBridge worth $348,793,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LB. FMR LLC boosted its holdings in LandBridge by 40.5% in the third 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 last quarter. Schwartz Investment Counsel Inc. boosted its stake in shares of LandBridge by 1.0% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock valued at $27,556,000 after purchasing an additional 4,400 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of LandBridge during the fourth quarter worth $20,928,000. Burkehill Global Management LP bought a new position in LandBridge during the fourth quarter worth $15,262,000. Finally, Boston Financial Mangement LLC bought a new position in LandBridge during the fourth quarter worth $15,276,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barclays upped their price target on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday. Raymond James upped their target price on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the stock an "overweight" rating in a report on Friday, March 7th. Royal Bank of Canada restated an "underperform" rating and set a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. One investment 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. According to data from MarketBeat.com, LandBridge has an average rating of "Moderate Buy" and a consensus target price of $57.56.

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LandBridge Stock Down 2.6 %

Shares of NYSE LB traded down $2.08 during midday trading on Friday, hitting $77.61. 706,828 shares of the stock traded hands, compared to its average volume of 489,426. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge Co LLC has a one year low of $18.75 and a one year high of $84.70. The business has a 50 day moving average price of $69.95 and a two-hundred day moving average price of $60.82. The company has a market cap of $5.68 billion and a PE ratio of 21.80.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.52%. LandBridge's dividend payout ratio (DPR) is presently 11.24%.

LandBridge 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.