One Charles Private Wealth Services LLC bought a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 78,253 shares of the company's stock, valued at approximately $5,055,000. LandBridge accounts for 1.7% of One Charles Private Wealth Services LLC's portfolio, making the stock its 12th largest position. One Charles Private Wealth Services LLC owned about 0.11% of LandBridge at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC increased its stake in shares of LandBridge by 4.0% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock worth $348,793,000 after acquiring an additional 208,408 shares in the last quarter. FMR LLC increased its stake in shares of LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company's stock valued at $93,032,000 after purchasing an additional 686,070 shares in the last quarter. Schwartz Investment Counsel Inc. increased its stake in shares of LandBridge by 1.0% during the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of LandBridge in the 4th quarter worth approximately $20,928,000. Finally, Burkehill Global Management LP bought a new stake in shares of LandBridge in the 4th quarter worth approximately $15,262,000.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. The Goldman Sachs Group reiterated a "buy" rating and set a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th. Piper Sandler dropped their price target on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company set a $82.00 price objective on shares of LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Raymond James upped their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. One 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 a consensus rating of "Moderate Buy" and a consensus price target of $57.56.
Check Out Our Latest Research Report on LandBridge
LandBridge Stock Performance
LB traded down $2.41 during midday trading on Tuesday, hitting $79.17. 670,811 shares of the company traded hands, compared to its average volume of 489,973. The company's 50-day moving average is $70.26 and its 200 day moving average is $61.80. 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 $5.79 billion and a PE ratio of 22.24. 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 given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. LandBridge's dividend payout ratio (DPR) is 11.24%.
LandBridge Profile
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Free Report)
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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