44,924 Shares in LandBridge Co LLC (NYSE:LB) Bought by Captrust Financial Advisors

Captrust Financial Advisors purchased a new stake in shares of LandBridge Co LLC (NYSE:LB) in the fourth quarter, Holdings Channel reports. The firm purchased 44,924 shares of the company’s stock, valued at approximately $2,902,000.

Several other institutional investors have also added to or reduced their stakes in LB. Baird Financial Group Inc. purchased a new stake in shares of LandBridge in the 4th quarter worth about $1,239,000. Bank of America Corp DE lifted its holdings in LandBridge by 12,067.2% in the fourth quarter. Bank of America Corp DE now owns 32,243 shares of the company’s stock worth $2,083,000 after buying an additional 31,978 shares during the period. Jane Street Group LLC purchased a new stake in LandBridge in the fourth quarter worth about $4,378,000. Monashee Investment Management LLC bought a new stake in LandBridge during the 4th quarter valued at approximately $8,071,000. Finally, Comerica Bank grew its holdings in shares of LandBridge by 29.7% during the 4th quarter. Comerica Bank now owns 1,158 shares of the company’s stock worth $75,000 after acquiring an additional 265 shares during the period.

Wall Street Analysts Forecast Growth

LB has been the subject of a number of research analyst reports. 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. Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the company an “overweight” rating in a report on Friday, March 7th. Piper Sandler decreased their price target on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group boosted their price objective on shares of LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. Finally, Raymond James raised their target price on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.44.

LandBridge Stock Performance

Shares of LB stock opened at $70.05 on Monday. The company has a market capitalization of $5.12 billion and a price-to-earnings ratio of 19.68. 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 Co LLC has a one year low of $18.75 and a one year high of $84.70. The company’s 50-day moving average is $70.67 and its 200 day moving average is $68.34.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge’s payout ratio 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.