Avidian Wealth Enterprises LLC Acquires New Stake in LandBridge Company LLC $LB

Avidian Wealth Enterprises LLC bought a new position in LandBridge Company LLC (NYSE:LB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,993 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Pekin Hardy Strauss Inc. increased its stake in LandBridge by 2.1% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company’s stock worth $950,000 after buying an additional 275 shares during the period. US Bancorp DE purchased a new position in shares of LandBridge during the first quarter worth approximately $28,000. Uniplan Investment Counsel Inc. bought a new stake in shares of LandBridge during the first quarter valued at approximately $30,000. Banque Transatlantique SA bought a new stake in shares of LandBridge during the first quarter valued at approximately $34,000. Finally, Cortland Associates Inc. MO boosted its holdings in shares of LandBridge by 0.5% in the first quarter. Cortland Associates Inc. MO now owns 151,269 shares of the company’s stock valued at $10,882,000 after purchasing an additional 696 shares during the period.

LandBridge Trading Up 5.0%

Shares of NYSE LB opened at $59.63 on Friday. LandBridge Company LLC has a 1-year low of $48.55 and a 1-year high of $87.60. The business has a fifty day moving average price of $53.53 and a 200 day moving average price of $62.44. The stock has a market capitalization of $4.56 billion, a P/E ratio of 16.75 and a beta of 0.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26.

LandBridge Dividend Announcement

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

Wall Street Analysts Forecast Growth

LB has been the topic of several research reports. Wells Fargo & Company reduced their price objective on LandBridge from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Piper Sandler dropped their price target on LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a report on Tuesday, October 14th. Barclays dropped their target price on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Finally, Raymond James Financial reduced their price target on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.17.

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.