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

Several other large investors have also recently added to or reduced their stakes in the business. Comerica Bank raised its holdings 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 purchasing an additional 265 shares during the period. Pekin Hardy Strauss Inc. raised its holdings in shares of LandBridge by 2.1% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company's stock worth $950,000 after purchasing an additional 275 shares during the period. US Bancorp DE purchased a new position in shares of LandBridge in the 1st quarter worth about $28,000. Cortland Associates Inc. MO raised its holdings in shares of LandBridge by 0.5% in the 1st quarter. Cortland Associates Inc. MO now owns 151,269 shares of the company's stock worth $10,882,000 after purchasing an additional 696 shares during the period. Finally, Deutsche Bank AG purchased a new position in shares of LandBridge in the 1st quarter worth about $55,000.

Insiders Place Their Bets

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction of $142,975,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 70.42% of the stock is currently owned by company insiders.

LandBridge Stock Down 3.8%

NYSE LB traded down $2.02 during mid-day trading on Friday, reaching $51.61. 778,855 shares of the company's stock traded hands, compared to its average volume of 838,483. LandBridge Company LLC has a 1-year low of $32.28 and a 1-year high of $87.60. The company has a fifty day simple moving average of $61.40 and a 200-day simple moving average of $67.82. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 14.50 and a beta of 0.32.

LandBridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 4th. LandBridge's dividend payout ratio (DPR) is 11.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LB. Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Wells Fargo & Company raised their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Piper Sandler lowered their target price on LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday. Barclays lowered their target price on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Finally, Raymond James Financial lowered their target price on LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, LandBridge has a consensus rating of "Hold" and an average target price of $62.29.

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.