Captrust Financial Advisors Takes $2.90 Million Position in LandBridge Co LLC (NYSE:LB)

Captrust Financial Advisors purchased a new stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 44,924 shares of the company's stock, valued at approximately $2,902,000. Captrust Financial Advisors owned approximately 0.06% of LandBridge at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LB. Sandbox Financial Partners LLC acquired a new stake in shares of LandBridge during the fourth quarter valued at about $637,000. Annex Advisory Services LLC bought a new position in shares of LandBridge during the fourth quarter worth about $1,165,000. Mad River Investors raised its position in shares of LandBridge by 0.4% during the fourth quarter. Mad River Investors now owns 233,452 shares of the company's stock worth $15,081,000 after acquiring an additional 902 shares during the last quarter. Segment Wealth Management LLC bought a new position in shares of LandBridge during the fourth quarter worth about $323,000. Finally, KBC Group NV bought a new position in shares of LandBridge during the fourth quarter worth about $72,000.

LandBridge Stock Performance

Shares of NYSE LB traded down $0.36 during trading on Wednesday, reaching $78.59. 479,755 shares of the stock traded hands, compared to its average volume of 499,839. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $84.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The company has a 50-day moving average of $71.40 and a 200-day moving average of $68.63. The stock has a market capitalization of $5.75 billion and a P/E ratio of 22.08.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.51%. LandBridge's dividend payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Piper Sandler dropped their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. Barclays boosted their price target on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Finally, Raymond James boosted their price objective on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.44.

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.