22,160 Shares in LandBridge Company LLC (NYSE:LB) Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC purchased a new position in shares of LandBridge Company LLC (NYSE:LB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,160 shares of the company's stock, valued at approximately $1,594,000.

A number of other large investors have also added to or reduced their stakes in LB. Private Advisor Group LLC acquired a new stake in LandBridge in the fourth quarter valued at $259,000. Steward Partners Investment Advisory LLC raised its position in shares of LandBridge by 174.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,651 shares of the company's stock worth $300,000 after acquiring an additional 2,955 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of LandBridge in the fourth quarter worth approximately $20,928,000. EagleClaw Capital Managment LLC boosted its holdings in LandBridge by 321.8% in the fourth quarter. EagleClaw Capital Managment LLC now owns 99,225 shares of the company's stock valued at $6,410,000 after acquiring an additional 75,700 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in LandBridge in the fourth quarter valued at approximately $3,674,000.

LandBridge Stock Down 1.8%

Shares of LB traded down $1.19 during trading hours on Tuesday, reaching $66.40. The stock had a trading volume of 552,228 shares, compared to its average volume of 478,849. The firm has a 50-day simple moving average of $73.70 and a 200 day simple moving average of $70.28. LandBridge Company LLC has a 12 month low of $22.51 and a 12 month high of $87.60. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $4.86 billion and a price-to-earnings ratio of 18.65.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were issued 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 0.60%. LandBridge's dividend payout ratio is presently 11.24%.

Insider Buying and Selling at LandBridge

In other 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 value of $142,975,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 70.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LB has been the subject of several analyst reports. Johnson Rice lowered shares of LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Barclays lifted their target price on shares of LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Piper Sandler cut their price target on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company boosted their price objective on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.67.

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.