58,900 Shares in LandBridge Co LLC (NYSE:LB) Bought by OFI Invest Asset Management

OFI Invest Asset Management acquired a new stake in LandBridge Co LLC (NYSE:LB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,900 shares of the company’s stock, valued at approximately $3,674,000.

Several other hedge funds also recently bought and sold shares of LB. FMR LLC boosted its stake in shares of LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after buying an additional 686,070 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its stake in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after purchasing an additional 484,968 shares in the last quarter. Raymond James Financial Inc. bought a new stake in LandBridge during the fourth quarter worth approximately $20,928,000. Boston Financial Mangement LLC bought a new stake in LandBridge in the fourth quarter worth about $15,276,000. Finally, Cortland Associates Inc. MO bought a new stake in shares of LandBridge during the 4th quarter worth $9,727,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LB. Raymond James upped their target price on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays lifted their price objective on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research report on Friday, January 3rd. 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 report on Friday. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, LandBridge currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.33.

LandBridge Stock Performance

LB stock opened at $67.60 on Friday. The firm has a market cap of $4.95 billion and a PE ratio of 18.99. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70. The stock has a 50-day moving average price of $69.31 and a 200-day moving average price of $58.69. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.59%. LandBridge’s dividend payout ratio 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.