Renaissance Technologies LLC Takes $11.07 Million Position in LandBridge Co LLC (NYSE:LB)

Renaissance Technologies LLC purchased a new stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 171,300 shares of the company's stock, valued at approximately $11,066,000. Renaissance Technologies LLC owned approximately 0.23% of LandBridge at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in LandBridge during the fourth quarter worth about $50,000. Generali Investments Management Co LLC bought a new position in shares of LandBridge during the fourth quarter valued at approximately $52,000. KBC Group NV acquired a new stake in shares of LandBridge during the 4th quarter worth approximately $72,000. Blue Trust Inc. bought a new stake in shares of LandBridge in the 4th quarter worth approximately $110,000. Finally, KLP Kapitalforvaltning AS acquired a new position in LandBridge during the 4th quarter valued at approximately $181,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays raised their target price on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Raymond James lifted their price objective on shares of LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. The Goldman Sachs Group raised their price target on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. 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 research report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.44.

LandBridge Price Performance

Shares of LandBridge stock traded up $2.71 during trading on Tuesday, hitting $68.12. The stock had a trading volume of 66,405 shares, compared to its average volume of 645,775. The business has a fifty day moving average of $69.03 and a two-hundred day moving average of $66.10. LandBridge Co LLC has a fifty-two week low of $18.75 and a fifty-two week high of $84.70. The firm has a market cap of $4.98 billion and a P/E ratio of 19.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73.

LandBridge Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. LandBridge's dividend payout ratio (DPR) is 11.24%.

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.