L & S Advisors Inc Takes Position in LandBridge Company LLC (NYSE:LB)

Key Points

• L & S Advisors Inc has acquired 45,708 shares of LandBridge Company LLC, valued at approximately $3.29 million, representing a 0.06% ownership in the company.
• Following the acquisition, several hedge funds, including Atlas Wealth Partners LLC and Pensierra Capital Management LLC, have also made significant purchases of LandBridge shares in the same quarter.
• Research analysts have set mixed price targets for LandBridge, with Wells Fargo raising their target to $93.00, while Barclays has reduced it to $66.00, reflecting an overall consensus rating of "Hold."

L & S Advisors Inc bought a new position in shares of LandBridge Company LLC (NYSE:LB - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 45,708 shares of the company's stock, valued at approximately $3,288,000. L & S Advisors Inc owned 0.06% of LandBridge as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hood River Capital Management LLC bought a new stake in LandBridge during the fourth quarter worth $41,431,000. Vanguard Group Inc. bought a new stake in LandBridge during the fourth quarter worth $38,480,000. First Manhattan CO. LLC. grew its holdings in LandBridge by 23.5% during the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock worth $175,292,000 after buying an additional 516,380 shares in the last quarter. Raymond James Financial Inc. bought a new stake in LandBridge during the fourth quarter worth $20,928,000. Finally, Oasis Management Co Ltd. bought a new stake in LandBridge during the fourth quarter worth $18,832,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LB. Barclays reduced their price objective on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company upped 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $65.86.

LandBridge Stock Performance

Shares of NYSE LB traded down $0.86 during trading on Tuesday, reaching $57.07. 81,623 shares of the stock traded hands, compared to its average volume of 584,233. LandBridge Company LLC has a 52-week low of $30.06 and a 52-week high of $87.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.70 and a quick ratio of 3.70. The company has a 50-day moving average of $64.97 and a 200-day moving average of $69.05. The stock has a market capitalization of $4.36 billion, a P/E ratio of 16.04 and a beta of 0.32.

LandBridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. LandBridge's dividend payout ratio is 11.24%.

Insider Transactions at LandBridge

In related news, Director David N. Capobianco sold 1,900,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction 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.

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.