one8zero8 LLC Acquires New Shares in LandBridge Co LLC (NYSE:LB)

one8zero8 LLC purchased a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 49,354 shares of the company's stock, valued at approximately $3,188,000. one8zero8 LLC owned about 0.07% of LandBridge as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC boosted its holdings in shares of LandBridge by 10.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company's stock valued at $203,067,000 after buying an additional 484,968 shares during the last quarter. FMR LLC boosted its holdings in shares of LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company's stock valued at $93,032,000 after buying an additional 686,070 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its holdings 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 buying an additional 4,400 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of LandBridge in the 4th quarter valued at approximately $20,928,000. Finally, Burkehill Global Management LP acquired a new stake in shares of LandBridge in the 4th quarter valued at approximately $15,262,000.

LandBridge Stock Performance

LB stock traded down $0.61 during trading hours on Thursday, hitting $79.59. 760,908 shares of the stock were exchanged, compared to its average volume of 488,240. 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 Co LLC has a 12 month low of $18.75 and a 12 month high of $84.70. The firm has a market capitalization of $5.82 billion and a P/E ratio of 22.36. The company has a 50-day simple moving average of $69.62 and a two-hundred day simple moving average of $60.55.

Remove Ads

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Thursday, March 6th. LandBridge's payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Raymond James increased their price target on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group restated a "buy" rating and issued a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. Piper Sandler dropped their price target on 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 target on LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Royal Bank of Canada restated an "underperform" rating and issued a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.44.

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.