LandBridge Company LLC $LB Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in LandBridge Company LLC by 24.6%, owning 79,804 shares valued at approximately $5.74 million as of the latest SEC filing.
• LandBridge's dividends have been set at $0.10 per share, with a yield of 0.7%, to be paid on September 18th.
• Research analysts have differing viewpoints, with Wells Fargo raising its price target to $93.00 while Barclays lowered it to $66.00, resulting in a consensus rating of "Hold".

HighTower Advisors LLC increased its position in LandBridge Company LLC (NYSE:LB - Free Report) by 24.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,804 shares of the company's stock after buying an additional 15,770 shares during the period. HighTower Advisors LLC owned about 0.11% of LandBridge worth $5,741,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Comerica Bank raised its position in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after buying an additional 265 shares during the last quarter. Pekin Hardy Strauss Inc. raised its position in shares of LandBridge by 2.1% in the first quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company's stock valued at $950,000 after buying an additional 275 shares during the last quarter. US Bancorp DE acquired a new position in shares of LandBridge in the first quarter valued at approximately $28,000. Cortland Associates Inc. MO raised its position in shares of LandBridge by 0.5% in the first quarter. Cortland Associates Inc. MO now owns 151,269 shares of the company's stock valued at $10,882,000 after buying an additional 696 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of LandBridge during the 1st quarter valued at about $55,000.

Analysts Set New Price Targets

LB has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays dropped their price objective on shares of 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 shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Piper Sandler dropped their price objective on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Raymond James Financial dropped their price objective on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $62.29.

Insiders Place Their Bets

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the company'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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 70.42% of the stock is currently owned by corporate insiders.

LandBridge Trading Up 2.6%

NYSE LB opened at $53.8620 on Wednesday. LandBridge Company LLC has a one year low of $32.28 and a one year high of $87.60. The company's 50 day moving average price is $60.60 and its 200 day moving average price is $67.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.26 and a current ratio of 4.26. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 15.13 and a beta of 0.32.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, September 4th. LandBridge's dividend payout ratio is currently 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.

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