Apollon Wealth Management LLC Invests $673,000 in LandBridge Company LLC $LB

Key Points

• Apollon Wealth Management LLC has invested approximately $673,000 in LandBridge Company LLC, purchasing nearly 10,000 shares in the second quarter.
• LandBridge recently announced a quarterly dividend of $0.10 per share, with a current dividend yield of 0.8%.
• Analysts have revised their price targets for LandBridge, with the consensus rating categorized as "Hold" and an average price target set at $65.50.

Apollon Wealth Management LLC purchased a new position in LandBridge Company LLC (NYSE:LB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,957 shares of the company's stock, valued at approximately $673,000.

Other large investors have also recently made changes to their positions in the company. US Bancorp DE bought a new stake in shares of LandBridge in the first quarter worth approximately $28,000. Uniplan Investment Counsel Inc. bought a new stake in LandBridge during the first quarter valued at approximately $30,000. Banque Transatlantique SA bought a new stake in LandBridge during the first quarter valued at approximately $34,000. Deutsche Bank AG bought a new stake in LandBridge during the first quarter valued at approximately $55,000. Finally, Avondale Wealth Management bought a new stake in LandBridge during the second quarter valued at approximately $81,000.

LandBridge Stock Performance

LB opened at $53.17 on Thursday. The firm has a market cap of $4.07 billion, a P/E ratio of 14.93 and a beta of 0.14. LandBridge Company LLC has a 1-year low of $48.55 and a 1-year high of $87.60. The company has a 50 day simple moving average of $53.04 and a two-hundred day simple moving average of $62.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 4th. LandBridge's dividend payout ratio is presently 11.24%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James Financial cut their target price on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Barclays cut their target price on shares of LandBridge from $66.00 to $57.00 and set an "equal weight" rating for the company in a research report on Tuesday. Zacks Research lowered shares of LandBridge from a "hold" rating to a "strong sell" rating in a research report on Friday, October 10th. Weiss Ratings restated a "hold (c)" rating on shares of LandBridge in a research report on Tuesday. Finally, Piper Sandler cut their target price on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $65.50.

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.

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