Annex Advisory Services LLC Purchases 163,662 Shares of LandBridge Co LLC (NYSE:LB)

Annex Advisory Services LLC boosted its holdings in shares of LandBridge Co LLC (NYSE:LB - Free Report) by 907.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 181,703 shares of the company's stock after purchasing an additional 163,662 shares during the quarter. Annex Advisory Services LLC owned about 0.25% of LandBridge worth $13,072,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LB. Hood River Capital Management LLC bought a new stake in LandBridge during the 4th quarter valued at approximately $41,431,000. Vanguard Group Inc. bought a new stake in LandBridge during the 4th quarter valued at approximately $38,480,000. First Manhattan CO. LLC. raised its stake in LandBridge by 23.5% during the 4th 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 during the period. Raymond James Financial Inc. bought a new stake in LandBridge in the 4th quarter worth approximately $20,928,000. Finally, Oasis Management Co Ltd. bought a new stake in LandBridge in the 4th quarter worth approximately $18,832,000.

Insider Activity at LandBridge

In related 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 70.42% of the stock is owned by company insiders.

LandBridge Trading Up 2.1%

Shares of LandBridge stock traded up $1.51 on Friday, reaching $73.41. The company had a trading volume of 389,101 shares, compared to its average volume of 494,700. The firm has a market cap of $5.37 billion and a price-to-earnings ratio of 20.62. 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 firm's 50-day moving average price is $72.44 and its two-hundred day moving average price is $70.32. LandBridge Co LLC has a 1 year low of $18.75 and a 1 year high of $87.60.

LandBridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge's payout ratio is currently 11.24%.

Analyst Ratings Changes

LB has been the topic of a number of research reports. The Goldman Sachs Group lifted their price objective on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Piper Sandler reduced their price objective 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 lifted their price objective on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company lifted their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research note 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. Based on data from MarketBeat.com, LandBridge presently has an average rating of "Moderate Buy" and a consensus price target 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.