HighTower Advisors LLC Raises Stock Holdings in LandBridge Company LLC $LB

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

A number of other hedge funds also recently made changes to their positions in LB. LPL Financial LLC raised its stake in shares of LandBridge by 88.4% during the 4th quarter. LPL Financial LLC now owns 10,509 shares of the company's stock worth $679,000 after purchasing an additional 4,931 shares during the period. Geode Capital Management LLC bought a new stake in shares of LandBridge during the 4th quarter worth $1,180,000. Wells Fargo & Company MN raised its stake in shares of LandBridge by 208.4% during the 4th quarter. Wells Fargo & Company MN now owns 19,736 shares of the company's stock worth $1,275,000 after purchasing an additional 13,336 shares during the period. Legal & General Group Plc bought a new stake in shares of LandBridge during the 4th quarter worth $689,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of LandBridge during the 4th quarter worth $749,000.

LandBridge Price Performance

LB stock traded down $1.9590 during mid-day trading on Monday, reaching $52.1310. 317,505 shares of the company traded hands, compared to its average volume of 645,802. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. The company has a market capitalization of $3.99 billion, a P/E ratio of 14.64 and a beta of 0.32. LandBridge Company LLC has a 52-week low of $32.28 and a 52-week high of $87.60. The company has a fifty day moving average price of $59.13 and a 200-day moving average price of $67.30.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 4th. LandBridge's payout ratio is presently 11.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LB shares. Barclays decreased their price objective on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Wells Fargo & Company lifted their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Johnson Rice lowered LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Raymond James Financial decreased their price objective on LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, Piper Sandler decreased their price objective on LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, LandBridge currently has an average rating of "Hold" and a consensus target price of $62.29.

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.