LandBridge Co LLC (NYSE:LB) Shares Sold by FIL Ltd

FIL Ltd lessened its holdings in shares of LandBridge Co LLC (NYSE:LB) by 71.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,408 shares of the company’s stock after selling 130,734 shares during the quarter. FIL Ltd’s holdings in LandBridge were worth $3,386,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Fairway Wealth LLC acquired a new stake in LandBridge in the fourth quarter valued at approximately $50,000. Generali Investments Management Co LLC purchased a new position in shares of LandBridge in the fourth quarter valued at $52,000. KBC Group NV acquired a new stake in LandBridge during the 4th quarter valued at $72,000. Blue Trust Inc. purchased a new stake in LandBridge during the 4th quarter worth $110,000. Finally, BNP Paribas Financial Markets purchased a new stake in LandBridge during the 3rd quarter worth $168,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LB. Raymond James raised their target price on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Piper Sandler dropped their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. The Goldman Sachs Group increased their target price on LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, Barclays boosted their target price on shares of LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.44.

LandBridge Stock Up 4.2 %

Shares of NYSE:LB opened at $65.49 on Friday. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70. The company’s fifty day moving average is $69.24 and its two-hundred day moving average is $64.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $4.79 billion and a price-to-earnings ratio of 18.40.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

LandBridge Company 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.