HITE Hedge Asset Management LLC Invests $9.44 Million in LandBridge Company LLC $LB

Key Points

• HITE Hedge Asset Management has invested approximately $9.44 million in LandBridge Company LLC, acquiring 131,229 shares, which represents about 0.18% ownership at the end of the reporting period.
• A significant insider transaction occurred when Director David N. Capobianco sold 1.9 million shares of LandBridge stock for approximately $142.98 million, indicating substantial insider activity.
• LandBridge recently announced a quarterly dividend of $0.10 per share, reflecting an annualized yield of 0.8% and a payout ratio of 11.24%, set to be paid on September 18.

HITE Hedge Asset Management LLC bought a new stake in LandBridge Company LLC (NYSE:LB - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 131,229 shares of the company's stock, valued at approximately $9,441,000. HITE Hedge Asset Management LLC owned about 0.18% of LandBridge at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LB. Quantbot Technologies LP purchased a new position in shares of LandBridge during the first quarter worth about $1,015,000. Raymond James Financial Inc. lifted its holdings in shares of LandBridge by 1.6% during the first quarter. Raymond James Financial Inc. now owns 329,123 shares of the company's stock worth $23,677,000 after purchasing an additional 5,155 shares during the period. Tocqueville Asset Management L.P. raised its position in LandBridge by 2.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 90,370 shares of the company's stock worth $6,501,000 after buying an additional 2,180 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of LandBridge by 8,533.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,554 shares of the company's stock worth $112,000 after acquiring an additional 1,536 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of LandBridge by 24.6% during the first quarter. HighTower Advisors LLC now owns 79,804 shares of the company's stock worth $5,741,000 after acquiring an additional 15,770 shares during the period.

Insider Transactions at LandBridge

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $75.25, for a total value of $142,975,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 70.42% of the company's stock.

Analysts Set New Price Targets

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

LandBridge Price Performance

LB stock opened at $51.61 on Monday. The stock's 50 day moving average price is $61.40 and its 200 day moving average price is $67.84. The firm has a market cap of $3.95 billion, a P/E ratio of 14.50 and a beta of 0.32. 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 $32.28 and a 1 year high of $87.60.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $0.10 dividend. 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 is 11.24%.

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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