Malaga Cove Capital LLC Makes New Investment in LandBridge Co LLC (NYSE:LB)

Malaga Cove Capital LLC bought a new position in LandBridge Co LLC (NYSE:LB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,879 shares of the company’s stock, valued at approximately $315,000.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of LandBridge during the fourth quarter worth approximately $689,000. Tocqueville Asset Management L.P. raised its stake in shares of LandBridge by 7.6% during the fourth quarter. Tocqueville Asset Management L.P. now owns 88,190 shares of the company’s stock worth $5,697,000 after buying an additional 6,240 shares during the last quarter. Schwartz Investment Counsel Inc. raised its stake in shares of LandBridge by 1.0% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company’s stock worth $27,556,000 after buying an additional 4,400 shares during the last quarter. Atlas Wealth Partners LLC bought a new stake in shares of LandBridge during the fourth quarter worth approximately $443,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of LandBridge during the fourth quarter worth approximately $234,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LB shares. Piper Sandler dropped 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. Barclays boosted their price target on shares of LandBridge from $79.00 to $80.00 and gave the stock 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 research note on Friday, March 7th. The Goldman Sachs Group upped their target price on shares of LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Finally, Raymond James upped 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, LandBridge has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

LandBridge Stock Down 0.5%

LandBridge stock opened at $78.59 on Thursday. The stock has a market capitalization of $5.75 billion and a PE ratio of 22.08. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $71.40 and a 200-day moving average of $68.63.

LandBridge Dividend Announcement

The business 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 $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge’s dividend payout ratio (DPR) is presently 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.