PDT Partners LLC increased its stake in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 20.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,214 shares of the company's stock after purchasing an additional 7,395 shares during the period. PDT Partners LLC owned 0.06% of LandBridge worth $3,109,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. First Manhattan CO. LLC. lifted its stake in shares of LandBridge by 3.1% during the 1st quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company's stock worth $201,303,000 after purchasing an additional 84,701 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of LandBridge by 5,290.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company's stock worth $85,845,000 after purchasing an additional 1,171,142 shares during the period. Vanguard Group Inc. lifted its stake in shares of LandBridge by 17.1% during the 1st quarter. Vanguard Group Inc. now owns 697,748 shares of the company's stock worth $50,196,000 after purchasing an additional 102,085 shares during the period. Schwartz Investment Counsel Inc. grew its stake in shares of LandBridge by 19.9% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 511,268 shares of the company's stock valued at $36,781,000 after buying an additional 84,700 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in shares of LandBridge by 1.6% during the 1st quarter. Raymond James Financial Inc. now owns 329,123 shares of the company's stock worth $23,677,000 after buying an additional 5,155 shares during the last quarter.
LandBridge Stock Performance
Shares of LandBridge stock traded down $2.10 on Friday, reaching $52.07. 253,792 shares of the company were exchanged, compared to its average volume of 446,067. 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 company's 50-day moving average is $56.33 and its two-hundred day moving average is $66.15. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 14.63 and a beta of 0.26. LandBridge Company LLC has a 1-year low of $32.28 and a 1-year high of $87.60.
LandBridge Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 4th. LandBridge's dividend payout ratio (DPR) is currently 11.24%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Piper Sandler decreased their price target on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Raymond James Financial decreased their price objective on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Finally, Barclays reduced their price target on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $62.29.
Read Our Latest Report on LB
LandBridge Company Profile
(
Free Report)
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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