Annex Advisory Services LLC Grows Holdings in LandBridge Company LLC $LB

Key Points

• Annex Advisory Services LLC increased its stake in LandBridge Company LLC by 14.8%, acquiring an additional 26,883 shares, bringing its total holdings to 208,586 shares valued at approximately $14.1 million.
• Several institutional investors, including US Bancorp DE and PNC Financial Services Group Inc., have made new stakes in LandBridge this year, indicating growing institutional interest in the company.
• Analysts have adjusted their price targets for LandBridge, with Piper Sandler cutting its target from $70 to $55, reflecting a trend of reduced expectations for the stock value.

Annex Advisory Services LLC lifted its holdings in LandBridge Company LLC (NYSE:LB - Free Report) by 14.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 208,586 shares of the company's stock after acquiring an additional 26,883 shares during the quarter. Annex Advisory Services LLC owned 0.29% of LandBridge worth $14,096,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Pekin Hardy Strauss Inc. lifted its holdings in shares of LandBridge by 2.1% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company's stock worth $950,000 after acquiring an additional 275 shares during the last quarter. US Bancorp DE bought a new stake in LandBridge during the 1st quarter valued at $28,000. Uniplan Investment Counsel Inc. bought a new stake in LandBridge during the 1st quarter valued at $30,000. Banque Transatlantique SA bought a new stake in LandBridge during the 1st quarter valued at $34,000. Finally, Cortland Associates Inc. MO raised its holdings in LandBridge by 0.5% during the 1st quarter. Cortland Associates Inc. MO now owns 151,269 shares of the company's stock valued at $10,882,000 after buying an additional 696 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LB. Raymond James Financial reduced their price objective on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Piper Sandler reduced their price objective on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Finally, Barclays reduced their target price on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, LandBridge presently has an average rating of "Hold" and an average target price of $67.00.

LandBridge Stock Performance

Shares of NYSE:LB traded up $5.62 during trading on Tuesday, hitting $57.81. The company's stock had a trading volume of 934,305 shares, compared to its average volume of 567,292. The company has a 50-day moving average of $53.73 and a 200-day moving average of $65.16. LandBridge Company LLC has a 12 month low of $37.81 and a 12 month high of $87.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 16.23 and a beta of 0.26.

LandBridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 4th. LandBridge's dividend payout ratio is currently 11.24%.

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.