Janney Montgomery Scott LLC Takes Position in LandBridge Company LLC (NYSE:LB)

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

Other institutional investors have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in LandBridge during the 4th quarter worth $50,000. Generali Investments Management Co LLC acquired a new position in LandBridge during the 4th quarter worth $52,000. Comerica Bank grew its stake in LandBridge by 29.7% during the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after purchasing an additional 265 shares in the last quarter. Barclays PLC acquired a new position in LandBridge during the 4th quarter worth $180,000. Finally, KLP Kapitalforvaltning AS acquired a new position in LandBridge during the 4th quarter worth $181,000.

LandBridge Stock Down 0.3%

LandBridge stock opened at $67.36 on Friday. LandBridge Company LLC has a fifty-two week low of $18.75 and a fifty-two week high of $87.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.70 and a current ratio of 3.70. The company has a market capitalization of $4.93 billion and a P/E ratio of 18.92. The stock has a 50-day simple moving average of $73.69 and a 200-day simple moving average of $70.13.

LandBridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, June 5th. LandBridge's payout ratio is currently 11.24%.

Insider Activity

In related news, Director David N. Capobianco sold 1,900,000 shares of the business's stock in a transaction dated 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 legal filing with the SEC, which is available at the SEC website. Company insiders own 70.42% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Barclays boosted their target price on 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 lowered their target price on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group lifted their price target on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Wells Fargo & Company lifted their price target on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.67.

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.

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