Voloridge Investment Management LLC Invests $1.52 Million in LandBridge Co LLC (NYSE:LB)

Voloridge Investment Management LLC purchased a new position in LandBridge Co LLC (NYSE:LB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 23,573 shares of the company's stock, valued at approximately $1,523,000.

Several other hedge funds have also made changes to their positions in LB. KBC Group NV acquired a new stake in shares of LandBridge in the 4th quarter worth about $72,000. Cortland Associates Inc. MO acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $9,727,000. Stratos Wealth Partners LTD. acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $234,000. Atlas Wealth Partners LLC bought a new stake in shares of LandBridge during the fourth quarter valued at approximately $443,000. Finally, Schwartz Investment Counsel Inc. boosted its position 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 period.

LandBridge Price Performance

Shares of NYSE:LB traded up $1.24 during trading hours on Monday, hitting $72.69. 305,842 shares of the company's stock traded hands, compared to its average volume of 497,212. The company's fifty day simple moving average is $72.44 and its two-hundred day simple moving average is $70.14. The company has a market cap of $5.32 billion and a price-to-earnings ratio of 20.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $87.60.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, June 5th. LandBridge's dividend payout ratio is presently 11.24%.

Insider Buying and Selling

In other news, Director David N. Capobianco sold 1,900,000 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction of $142,975,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 70.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on LB shares. Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Barclays lifted their price objective on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. The Goldman Sachs Group increased their target price on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Wells Fargo & Company boosted their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Piper Sandler reduced 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. One 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.

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.