Atlas Wealth Partners LLC Increases Position in LandBridge Company LLC (NYSE:LB)

Atlas Wealth Partners LLC increased its stake in LandBridge Company LLC (NYSE:LB - Free Report) by 69.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,645 shares of the company's stock after acquiring an additional 4,781 shares during the period. LandBridge comprises approximately 1.0% of Atlas Wealth Partners LLC's portfolio, making the stock its 15th largest position. Atlas Wealth Partners LLC's holdings in LandBridge were worth $838,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in shares of LandBridge by 29.7% during the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after acquiring an additional 265 shares during the last quarter. Barclays PLC bought a new position in shares of LandBridge during the fourth quarter valued at about $180,000. KLP Kapitalforvaltning AS bought a new position in shares of LandBridge during the fourth quarter valued at about $181,000. B. Riley Wealth Advisors Inc. bought a new position in shares of LandBridge during the fourth quarter valued at about $218,000. Finally, Northern Trust Corp bought a new position in shares of LandBridge during the fourth quarter valued at about $273,000.

LandBridge Price Performance

Shares of LB stock traded down $0.11 on Friday, hitting $55.80. 441,741 shares of the stock traded hands, compared to its average volume of 480,009. The firm has a market cap of $4.26 billion and a price-to-earnings ratio of 15.67. LandBridge Company LLC has a 52 week low of $28.01 and a 52 week high of $87.60. The firm has a 50 day simple moving average of $70.32 and a two-hundred day simple moving average of $70.28. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.70 and a quick ratio of 3.70.

LandBridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.72%. LandBridge's payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Johnson Rice downgraded shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Wells Fargo & Company increased their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. The Goldman Sachs Group increased their price target on shares of LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Finally, Barclays set a $66.00 price target on shares of LandBridge and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, LandBridge currently has an average rating of "Moderate Buy" and an average target price of $59.11.

Insider Activity at LandBridge

In related news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction dated Friday, May 23rd. The shares were 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 can be accessed through this link. 70.42% of the stock is owned by insiders.

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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