Kingswood Wealth Advisors LLC purchased a new stake in LandBridge Company LLC (NYSE:LB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 29,755 shares of the company's stock, valued at approximately $2,141,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC purchased a new stake in LandBridge during the fourth quarter valued at approximately $50,000. Generali Investments Management Co LLC acquired a new position in shares of LandBridge during the fourth quarter worth $52,000. Comerica Bank increased its position in shares of LandBridge by 29.7% during the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after purchasing an additional 265 shares in the last quarter. Blue Trust Inc. purchased a new stake in shares of LandBridge during the 4th quarter valued at $110,000. Finally, Barclays PLC acquired a new stake in shares of LandBridge in the 4th quarter worth $180,000.
Insider Buying and Selling at LandBridge
In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction of $142,975,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 70.42% of the company's stock.
LandBridge Stock Performance
Shares of NYSE:LB traded up $0.50 during trading on Thursday, hitting $70.92. The stock had a trading volume of 237,961 shares, compared to its average volume of 489,946. The stock has a 50-day simple moving average of $73.54 and a two-hundred day simple moving average of $70.13. The stock has a market capitalization of $5.19 billion and a price-to-earnings ratio of 19.92. LandBridge Company LLC has a 12-month low of $18.75 and a 12-month high of $87.60. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.60.
LandBridge Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders 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 0.56%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge's payout ratio is 11.24%.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. Piper Sandler dropped their target price on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Barclays boosted their price target on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. The Goldman Sachs Group upped their price objective on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company boosted their target price 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $60.67.
Get Our Latest Stock Report on LB
LandBridge Company Profile
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Free Report)
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.
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