Cortland Associates Inc. MO Purchases 362 Shares of LandBridge Company LLC $LB

Cortland Associates Inc. MO increased its position in shares of LandBridge Company LLC (NYSE:LB) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,631 shares of the company’s stock after purchasing an additional 362 shares during the period. LandBridge accounts for 1.2% of Cortland Associates Inc. MO’s portfolio, making the stock its 24th largest holding. Cortland Associates Inc. MO’s holdings in LandBridge were worth $10,247,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of LB. US Bancorp DE bought a new stake in LandBridge in the 1st quarter valued at $28,000. Uniplan Investment Counsel Inc. bought a new stake in LandBridge in the 1st quarter valued at $30,000. Banque Transatlantique SA bought a new stake in LandBridge in the 1st quarter valued at $34,000. Deutsche Bank AG bought a new stake in LandBridge in the 1st quarter valued at $55,000. Finally, Avondale Wealth Management bought a new stake in LandBridge in the 2nd quarter valued at $81,000.

LandBridge Stock Performance

LandBridge stock opened at $54.53 on Wednesday. The company’s 50-day moving average price is $53.71 and its 200-day moving average price is $63.87. LandBridge Company LLC has a twelve month low of $43.79 and a twelve month high of $87.60. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54. The company has a market cap of $4.17 billion, a PE ratio of 15.32 and a beta of 0.14.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. LandBridge’s payout ratio is currently 11.24%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LB. Barclays reduced their price target on shares of LandBridge from $80.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Piper Sandler reduced their price target on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Raymond James Financial dropped their price objective on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of LandBridge in a report on Saturday, September 27th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, LandBridge presently has a consensus rating of “Hold” and a consensus target price of $67.00.

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.