Annex Advisory Services LLC Grows Stock Holdings in LandBridge Co LLC (NYSE:LB)

Annex Advisory Services LLC increased its stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) by 907.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,703 shares of the company's stock after buying an additional 163,662 shares during the period. Annex Advisory Services LLC owned about 0.25% of LandBridge worth $13,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LB. Horizon Kinetics Asset Management LLC lifted its holdings in shares of LandBridge by 4.0% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock valued at $348,793,000 after purchasing an additional 208,408 shares in the last quarter. First Manhattan CO. LLC. lifted its holdings in shares of LandBridge by 23.5% in the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock valued at $175,292,000 after purchasing an additional 516,380 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of LandBridge in the fourth quarter valued at about $41,431,000. Vanguard Group Inc. purchased a new stake in shares of LandBridge in the fourth quarter valued at about $38,480,000. Finally, Schwartz Investment Counsel Inc. lifted its holdings in shares of LandBridge by 1.0% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock valued at $27,556,000 after purchasing an additional 4,400 shares in the last quarter.

Insider Buying and Selling

In related news, Director David N. Capobianco sold 1,900,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were 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 Securities & Exchange Commission, which is available at the SEC website. 70.42% of the stock is currently owned by company insiders.

LandBridge Trading Down 0.6%

Shares of NYSE:LB traded down $0.41 during trading on Thursday, reaching $71.91. The stock had a trading volume of 316,430 shares, compared to its average volume of 495,149. The business has a fifty day moving average price of $72.42 and a 200-day moving average price of $70.20. 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 stock has a market cap of $5.26 billion and a P/E ratio of 20.20. LandBridge Co LLC has a fifty-two week low of $18.75 and a fifty-two week high of $87.60.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be given 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 dividend payout ratio (DPR) is 11.24%.

Wall Street Analyst Weigh In

LB has been the topic of several recent research reports. Johnson Rice downgraded shares of LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. The Goldman Sachs Group upped their price target on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. Piper Sandler reduced their price target on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Wells Fargo & Company upped their price target on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Barclays upped their price target on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $60.67.

LandBridge Profile

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.