Ashford Capital Management Inc. bought a new stake in LandBridge Company LLC (NYSE:LB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 248,540 shares of the company's stock, valued at approximately $17,162,000. LandBridge comprises approximately 2.1% of Ashford Capital Management Inc.'s investment portfolio, making the stock its 17th largest holding. Ashford Capital Management Inc. owned about 0.32% of LandBridge at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in LB. NewEdge Advisors LLC boosted its position in shares of LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company's stock worth $27,000 after buying an additional 209 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in LandBridge in the 4th quarter valued at about $33,000. Quattro Advisors LLC purchased a new position in LandBridge during the 4th quarter valued at about $36,000. Galaxy Group Investments LLC purchased a new position in LandBridge during the 4th quarter valued at about $36,000. Finally, CIBC Private Wealth Group LLC acquired a new position in LandBridge during the fourth quarter worth about $40,000.
LandBridge Stock Down 1.3%
Shares of NYSE:LB opened at $75.34 on Tuesday. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.81 billion, a P/E ratio of 77.67 and a beta of 0.02. LandBridge Company LLC has a 52-week low of $43.75 and a 52-week high of $85.60. The stock's fifty day simple moving average is $72.45 and its 200-day simple moving average is $67.99.
LandBridge (NYSE:LB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.32). LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The company had revenue of $51.01 million for the quarter, compared to analysts' expectations of $58.72 million. During the same quarter in the prior year, the business posted $0.37 EPS. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities research analysts forecast that LandBridge Company LLC will post 1.48 earnings per share for the current fiscal year.
LandBridge Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. LandBridge's payout ratio is 49.48%.
Analyst Ratings Changes
Several analysts have issued reports on the stock. The Goldman Sachs Group set a $84.00 price target on shares of LandBridge in a report on Thursday, May 28th. Weiss Ratings reissued a "hold (c)" rating on shares of LandBridge in a research note on Monday, July 6th. Piper Sandler raised their price objective on shares of LandBridge from $66.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. Finally, Zacks Research upgraded LandBridge from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $78.50.
Read Our Latest Report on LB
LandBridge Profile
(
Free Report)
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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.
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