Key Client Fiduciary Advisors LLC Buys Shares of 9,465 LandBridge Co LLC (NYSE:LB)

Key Client Fiduciary Advisors LLC bought a new stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,465 shares of the company's stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank increased its stake in LandBridge by 29.7% in the fourth 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. Fairway Wealth LLC acquired a new stake in shares of LandBridge during the fourth quarter worth about $50,000. Generali Investments Management Co LLC acquired a new stake in shares of LandBridge during the fourth quarter worth about $52,000. KBC Group NV acquired a new position in LandBridge in the fourth quarter valued at approximately $72,000. Finally, Blue Trust Inc. acquired a new position in LandBridge in the fourth quarter valued at approximately $110,000.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 70.42% of the company's stock.

LandBridge Price Performance

NYSE LB traded up $1.51 during mid-day trading on Friday, hitting $73.41. The stock had a trading volume of 389,101 shares, compared to its average volume of 494,700. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $87.60. The company has a market cap of $5.37 billion and a price-to-earnings ratio of 20.62. The company has a 50 day simple moving average of $72.44 and a 200 day simple moving average of $70.30. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge's payout ratio is 11.24%.

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.