OneDigital Investment Advisors LLC Makes New $383,000 Investment in LandBridge Co LLC (NYSE:LB)

OneDigital Investment Advisors LLC bought a new stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,800 shares of the company's stock, valued at approximately $383,000.

Several other large investors have also recently modified their holdings of LB. Marshall Wace LLP bought a new position in shares of LandBridge during the 2nd quarter worth $1,158,000. Ghisallo Capital Management LLC bought a new position in shares of LandBridge during the 2nd quarter worth $1,158,000. Point72 DIFC Ltd bought a new position in shares of LandBridge during the 2nd quarter worth $497,000. M&R Capital Management Inc. purchased a new stake in shares of LandBridge during the 3rd quarter worth $39,000. Finally, Requisite Capital Management LLC purchased a new stake in shares of LandBridge during the 3rd quarter worth $293,000.

LandBridge Price Performance

LB stock traded up $7.57 during midday trading on Friday, hitting $75.02. 659,965 shares of the stock traded hands, compared to its average volume of 380,199. The company's fifty day moving average is $52.30. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $78.41. The firm has a market capitalization of $5.49 billion and a price-to-earnings ratio of 20.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

LandBridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, December 5th. LandBridge's dividend payout ratio is currently 11.24%.

Analyst Ratings Changes

A number of research firms have commented on LB. Citigroup increased their price target on LandBridge from $31.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Wells Fargo & Company increased their price objective on LandBridge from $34.00 to $36.00 and gave the company an "overweight" rating in a report on Friday, August 9th. Janney Montgomery Scott started coverage on LandBridge in a report on Thursday, July 25th. They issued a "buy" rating and a $36.00 price objective on the stock. The Goldman Sachs Group increased their price objective on LandBridge from $38.00 to $43.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, Barclays increased their price objective on LandBridge from $29.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.57.

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.