Tocqueville Asset Management L.P. Raises Stock Holdings in LandBridge Co LLC (NYSE:LB)

Tocqueville Asset Management L.P. grew its stake in LandBridge Co LLC (NYSE:LB - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,190 shares of the company's stock after purchasing an additional 6,240 shares during the period. Tocqueville Asset Management L.P. owned about 0.12% of LandBridge worth $5,697,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Centiva Capital LP lifted its position in shares of LandBridge by 4.7% during the 3rd quarter. Centiva Capital LP now owns 9,527 shares of the company's stock valued at $373,000 after buying an additional 427 shares in the last quarter. Fairway Wealth LLC acquired a new position in LandBridge in the 4th quarter valued at $50,000. Mad River Investors raised its stake in LandBridge by 0.4% in the 4th 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 during the last quarter. KBC Group NV acquired a new position in LandBridge in the 4th quarter valued at $72,000. Finally, Blue Trust Inc. acquired a new position in LandBridge in the 4th quarter valued at $110,000.

Analysts Set New Price Targets

Several research analysts recently commented on LB shares. Piper Sandler reduced their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Wells Fargo & Company set a $82.00 price objective on LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. 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 reissued an "underperform" rating and issued a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Raymond James raised their target price on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. One research 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.56.

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LandBridge Trading Down 2.6 %

Shares of LB traded down $2.08 during midday trading on Friday, reaching $77.61. The company had a trading volume of 706,828 shares, compared to its average volume of 489,374. The stock has a market cap of $5.68 billion and a PE ratio of 21.80. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70. The firm has a 50 day simple moving average of $70.03 and a 200-day simple moving average of $61.10. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 annualized dividend and a yield of 0.52%. LandBridge's dividend payout ratio (DPR) is currently 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.