OFI Invest Asset Management Invests $3.67 Million in LandBridge Co LLC (NYSE:LB)

OFI Invest Asset Management bought a new stake in LandBridge Co LLC (NYSE:LB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,900 shares of the company's stock, valued at approximately $3,674,000. OFI Invest Asset Management owned about 0.08% of LandBridge as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LB. KBC Group NV acquired a new stake in shares of LandBridge in the 4th quarter worth approximately $72,000. Blue Trust Inc. acquired a new stake in shares of LandBridge in the 4th quarter worth approximately $110,000. BNP Paribas Financial Markets acquired a new stake in shares of LandBridge in the 3rd quarter worth approximately $168,000. Canton Hathaway LLC acquired a new stake in shares of LandBridge in the 4th quarter worth approximately $211,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of LandBridge in the 3rd quarter worth approximately $218,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group restated a "buy" rating and issued a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Raymond James upped their target price on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Piper Sandler reduced their target price on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.44.

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LandBridge Trading Up 1.7 %

Shares of LandBridge stock traded up $1.15 during trading hours on Wednesday, reaching $69.37. 450,557 shares of the company's stock were exchanged, compared to its average volume of 487,135. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $84.70. The firm has a market capitalization of $5.07 billion and a price-to-earnings ratio of 19.49. The company has a fifty day moving average of $69.42 and a 200-day moving average of $59.37. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Dividend Announcement

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

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.