LandBridge Company LLC $LB Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its LandBridge stake by 996.1% in the first quarter, purchasing 59,009 additional shares for a total holding of 64,933 shares valued at approximately $4.48 million.
• Analyst sentiment remains cautious, with an overall “Hold” rating and an average price target of $80.33, despite recent targets ranging from $80 to $86.
• LandBridge shares opened at $87.05 and have traded between $43.75 and $91.69 over the past year. The company also declared a quarterly dividend of $0.12 per share, representing a 0.6% yield.

Bank of America Corp DE increased its stake in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 996.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,933 shares of the company's stock after buying an additional 59,009 shares during the quarter. Bank of America Corp DE owned about 0.08% of LandBridge worth $4,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Comerica Bank raised its holdings in LandBridge by 13.6% during the 3rd quarter. Comerica Bank now owns 1,369 shares of the company's stock worth $73,000 after buying an additional 164 shares during the period. NewEdge Advisors LLC lifted its stake in LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company's stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. Geode Capital Management LLC grew its position in LandBridge by 0.8% in the second quarter. Geode Capital Management LLC now owns 28,971 shares of the company's stock worth $1,958,000 after acquiring an additional 230 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of LandBridge by 12.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company's stock worth $183,000 after purchasing an additional 301 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of LandBridge by 564.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company's stock worth $36,000 after purchasing an additional 440 shares during the last quarter.

Analysts Set New Price Targets

LB has been the topic of several recent research reports. Zacks Research upgraded LandBridge from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. The Goldman Sachs Group set a $84.00 price objective on LandBridge in a research note on Thursday, May 28th. Piper Sandler increased their price target on LandBridge from $66.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 21st. Weiss Ratings lowered shares of LandBridge from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. Finally, Citigroup boosted their price objective on shares of LandBridge from $66.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $80.33.

LandBridge Stock Down 2.4%

NYSE LB opened at $87.05 on Friday. The stock's 50 day simple moving average is $77.19 and its 200 day simple moving average is $72.08. LandBridge Company LLC has a one year low of $43.75 and a one year high of $91.69. The firm has a market cap of $6.71 billion, a PE ratio of 77.04 and a beta of 0.06. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 27th. LandBridge's dividend payout ratio (DPR) is 42.48%.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.

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