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 boosted its stake in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 14.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 208,586 shares of the company's stock after purchasing an additional 26,883 shares during the period. Annex Advisory Services LLC owned approximately 0.29% of LandBridge worth $14,096,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE acquired a new stake in LandBridge in the 1st quarter valued at $28,000. Uniplan Investment Counsel Inc. acquired a new position in LandBridge during the first quarter worth $30,000. Banque Transatlantique SA acquired a new position in shares of LandBridge during the 1st quarter valued at about $34,000. Deutsche Bank AG acquired a new position in LandBridge during the 1st quarter worth about $55,000. Finally, PNC Financial Services Group Inc. acquired a new stake in LandBridge in the 1st quarter valued at about $102,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on LB shares. Piper Sandler dropped 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. Raymond James Financial lowered their target price on LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Barclays lowered their price objective on LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, LandBridge presently has an average rating of "Hold" and a consensus target price of $67.00.

LandBridge Trading Up 1.5%

Shares of LB stock traded up $0.77 during mid-day trading on Monday, reaching $52.12. The company's stock had a trading volume of 277,996 shares, compared to its average volume of 565,510. The company's 50 day simple moving average is $53.87 and its 200-day simple moving average is $65.26. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54. LandBridge Company LLC has a 12-month low of $37.81 and a 12-month high of $87.60. The firm has a market capitalization of $3.99 billion, a PE ratio of 14.64 and a beta of 0.26.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 4th. LandBridge's dividend payout ratio (DPR) is presently 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.