LPL Financial LLC Raises Stake in LandBridge Co LLC (NYSE:LB)

LPL Financial LLC increased its holdings in shares of LandBridge Co LLC (NYSE:LB - Free Report) by 88.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,509 shares of the company's stock after acquiring an additional 4,931 shares during the period. LPL Financial LLC's holdings in LandBridge were worth $679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LB. KLP Kapitalforvaltning AS purchased a new stake in shares of LandBridge in the fourth quarter worth $181,000. Sei Investments Co. bought a new position in LandBridge in the 4th quarter worth about $568,000. One Charles Private Wealth Services LLC purchased a new stake in LandBridge during the 4th quarter valued at about $5,055,000. Generali Investments Management Co LLC bought a new stake in LandBridge during the 4th quarter valued at about $52,000. Finally, Tocqueville Asset Management L.P. raised its holdings in LandBridge by 7.6% in 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.

LandBridge Stock Performance

Shares of LB opened at $68.28 on Wednesday. LandBridge Co LLC has a one year low of $18.75 and a one year high of $84.70. The business has a fifty day moving average of $69.03 and a 200 day moving average of $66.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $5.00 billion and a P/E ratio of 19.18.

LandBridge Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, March 6th. LandBridge's payout ratio is currently 11.24%.

Analysts Set New Price Targets

A number of research firms have recently commented on LB. Barclays increased their price target on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. 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. Raymond James lifted 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. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the company an "overweight" rating in a report on Friday, March 7th. Finally, Piper Sandler reduced their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $59.44.

About LandBridge

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.

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