Goldman Sachs Group Inc. Has $1.28 Million Stake in LandBridge Company LLC $LB

Key Points

• Goldman Sachs Group Inc. reduced its holdings in LandBridge Company LLC by 86.9%, leaving them with 17,751 shares valued at approximately $1.28 million.
• LandBridge recently announced a quarterly dividend of $0.10 per share, offering an annualized dividend yield of 0.8%.
• Several analysts have adjusted their price targets for LandBridge shares; notable reductions include Raymond James Financial lowering theirs from $85.00 to $75.00.

Goldman Sachs Group Inc. decreased its position in LandBridge Company LLC (NYSE:LB - Free Report) by 86.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,751 shares of the company's stock after selling 117,797 shares during the period. Goldman Sachs Group Inc.'s holdings in LandBridge were worth $1,277,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in LandBridge in the 1st quarter valued at approximately $255,000. Empowered Funds LLC acquired a new position in shares of LandBridge in the 1st quarter worth approximately $494,000. Uniplan Investment Counsel Inc. acquired a new position in shares of LandBridge in the 1st quarter worth approximately $30,000. Banque Transatlantique SA acquired a new position in shares of LandBridge in the 1st quarter worth approximately $34,000. Finally, Amundi acquired a new position in shares of LandBridge in the 1st quarter worth approximately $5,763,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LB shares. Raymond James Financial dropped 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. Barclays dropped their target price on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Finally, Piper Sandler decreased their price target on LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $67.00.

LandBridge Stock Up 11.9%

LB stock traded up $6.22 during mid-day trading on Tuesday, hitting $58.41. 772,446 shares of the company were exchanged, compared to its average volume of 566,431. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.26 and a current ratio of 4.26. LandBridge Company LLC has a 1-year low of $37.81 and a 1-year high of $87.60. The firm's 50 day simple moving average is $53.73 and its 200 day simple moving average is $65.16. The firm has a market cap of $4.47 billion, a P/E ratio of 16.47 and a beta of 0.26.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. LandBridge's payout ratio is presently 11.24%.

About LandBridge

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.