Sprott Inc. Purchases 16,909 Shares of LandBridge Co LLC (NYSE:LB)

Sprott Inc. boosted its stake in LandBridge Co LLC (NYSE:LB - Free Report) by 35.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,232 shares of the company's stock after purchasing an additional 16,909 shares during the period. Sprott Inc. owned about 0.09% of LandBridge worth $4,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LB. KBC Group NV acquired a new stake in LandBridge during the 4th quarter worth about $72,000. Blue Trust Inc. acquired a new stake in LandBridge during the 4th quarter worth about $110,000. BNP Paribas Financial Markets acquired a new stake in LandBridge during the 3rd quarter worth about $168,000. Canton Hathaway LLC acquired a new stake in LandBridge during the 4th quarter worth about $211,000. Finally, Axxcess Wealth Management LLC acquired a new stake in LandBridge during the 3rd quarter worth about $218,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on LB. Barclays increased their price target on LandBridge from $38.00 to $79.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. Raymond James increased their price objective on shares of LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Piper Sandler increased their price objective on shares of LandBridge from $39.00 to $79.00 and gave the stock a "neutral" rating in a research report on Monday, November 25th. The Goldman Sachs Group reissued a "buy" rating and set a $71.00 price objective on shares of LandBridge in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reissued an "underperform" rating and set a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $53.33.

LandBridge Stock Up 7.3 %

NYSE LB traded up $4.75 during trading hours on Friday, hitting $69.64. The company's stock had a trading volume of 706,822 shares, compared to its average volume of 478,177. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $84.70. The company has a market capitalization of $5.09 billion and a PE ratio of 19.56. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The company's 50-day simple moving average is $69.03 and its two-hundred day simple moving average is $57.64.

LandBridge Announces Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.40 annualized dividend and a yield of 0.57%. LandBridge's payout ratio is 11.24%.

LandBridge 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.