Entropy Technologies LP Takes Position in LandBridge Company LLC (NYSE:LB)

Key Points

• Entropy Technologies LP invested approximately $554,000 in LandBridge Company LLC by purchasing 7,700 shares in the first quarter, marking a new position for the institutional investor.
• LandBridge recently announced a quarterly dividend of $0.10 per share, which represents a yield of 0.8% and will be paid on September 18th to shareholders of record on September 4th.
• Several analysts have revised their target prices for LandBridge, with Barclays lowering it from $80.00 to $66.00, while Wells Fargo increased their target from $82.00 to $93.00, indicating mixed sentiments on the stock's performance.

Entropy Technologies LP purchased a new position in LandBridge Company LLC (NYSE:LB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,700 shares of the company's stock, valued at approximately $554,000.

Several other institutional investors and hedge funds also recently modified their holdings of LB. Comerica Bank raised its stake in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after buying an additional 265 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its position in LandBridge by 2.1% during 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 period. US Bancorp DE acquired a new stake in LandBridge during the 1st quarter worth about $28,000. Cortland Associates Inc. MO boosted its position in LandBridge by 0.5% during the 1st quarter. Cortland Associates Inc. MO now owns 151,269 shares of the company's stock worth $10,882,000 after acquiring an additional 696 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of LandBridge during the 1st quarter valued at about $55,000.

LandBridge Stock Performance

Shares of LB traded up $1.65 on Thursday, reaching $53.78. 899,847 shares of the stock traded hands, compared to its average volume of 829,522. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 15.11 and a beta of 0.32. 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 Company LLC has a 12 month low of $32.28 and a 12 month high of $87.60. The stock's 50-day moving average price is $61.83 and its 200-day moving average price is $67.91.

LandBridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. LandBridge's payout ratio is currently 11.24%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LB shares. Barclays reduced their price target on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Johnson Rice lowered LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Raymond James Financial reduced their target price on LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, Wells Fargo & Company boosted their target price on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $64.43.

Insider Activity

In related news, Director David N. Capobianco sold 1,900,000 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 70.42% of the company's stock.

LandBridge Company 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.