FIL Ltd Sells 130,734 Shares of LandBridge Co LLC (NYSE:LB)

FIL Ltd reduced its position in LandBridge Co LLC (NYSE:LB - Free Report) by 71.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,408 shares of the company's stock after selling 130,734 shares during the period. FIL Ltd owned about 0.07% of LandBridge worth $3,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tocqueville Asset Management L.P. increased its position in LandBridge by 7.6% during the fourth quarter. Tocqueville Asset Management L.P. now owns 88,190 shares of the company's stock worth $5,697,000 after buying an additional 6,240 shares during the last quarter. Schwartz Investment Counsel Inc. raised 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 acquiring an additional 4,400 shares in the last quarter. Atlas Wealth Partners LLC acquired a new stake in LandBridge in the 4th quarter worth approximately $443,000. Stratos Wealth Partners LTD. acquired a new position in LandBridge during the fourth quarter valued at approximately $234,000. Finally, Ipswich Investment Management Co. Inc. bought a new position in shares of LandBridge in the fourth quarter valued at approximately $1,018,000.

LandBridge Stock Performance

Shares of NYSE LB traded up $1.45 during trading hours on Friday, reaching $69.10. The stock had a trading volume of 276,637 shares, compared to its average volume of 510,542. The company has a market cap of $5.05 billion and a price-to-earnings ratio of 19.41. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70. The business's fifty day moving average is $69.16 and its two-hundred day moving average is $65.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73.

LandBridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, March 6th. LandBridge's payout ratio is 11.24%.

Analyst Upgrades and Downgrades

LB has been the topic of a number of research analyst reports. Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. Barclays raised their price target on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, March 21st. Piper Sandler cut their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. The Goldman Sachs Group increased their target price on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Finally, Raymond James upped their price target on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, LandBridge currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.44.

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.