LandBridge Company LLC $LB Shares Sold by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd cut its LandBridge position by 89% in the first quarter, leaving it with 4,439 shares worth about $307,000 after selling 35,790 shares.
• LandBridge reported mixed quarterly results: EPS of $0.23 missed estimates of $0.55, while revenue of $51.01 million also came in below expectations, though revenue still rose 16% year over year.
• Analysts currently have a mostly cautious stance on the stock, with an average rating of “Hold” and a consensus price target of $76.17, while shares recently traded around $78.11.

Y Intercept Hong Kong Ltd reduced its stake in LandBridge Company LLC (NYSE:LB - Free Report) by 89.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,439 shares of the company's stock after selling 35,790 shares during the period. Y Intercept Hong Kong Ltd's holdings in LandBridge were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its holdings in shares of LandBridge by 30.7% in the 4th quarter. HighTower Advisors LLC now owns 110,626 shares of the company's stock valued at $5,420,000 after buying an additional 26,014 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in LandBridge during the 4th quarter worth $2,865,000. Mad River Investors raised its stake in LandBridge by 9.1% during the 4th quarter. Mad River Investors now owns 262,934 shares of the company's stock worth $12,881,000 after acquiring an additional 21,878 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in LandBridge in the fourth quarter valued at $33,817,000. Finally, Viking Fund Management LLC lifted its position in LandBridge by 100.0% in the fourth quarter. Viking Fund Management LLC now owns 80,000 shares of the company's stock valued at $3,919,000 after acquiring an additional 40,000 shares during the last quarter.

LandBridge Stock Down 0.8%

Shares of NYSE:LB opened at $78.11 on Thursday. The stock has a market cap of $6.02 billion, a P/E ratio of 80.53 and a beta of 0.02. The firm has a fifty day moving average price of $70.98 and a 200 day moving average price of $66.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.15 and a quick ratio of 3.15. LandBridge Company LLC has a 1-year low of $43.75 and a 1-year high of $85.60.

LandBridge (NYSE:LB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.32). LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The business had revenue of $51.01 million for the quarter, compared to analysts' expectations of $58.72 million. During the same period in the previous year, the business posted $0.37 earnings per share. The company's revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts predict that LandBridge Company LLC will post 1.48 EPS for the current year.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, June 4th. LandBridge's payout ratio is 49.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler reaffirmed a "neutral" rating and set a $66.00 price objective (up from $65.00) on shares of LandBridge in a report on Friday, May 8th. The Goldman Sachs Group set a $84.00 target price on LandBridge in a report on Thursday, May 28th. Weiss Ratings reissued a "hold (c)" rating on shares of LandBridge in a research report on Monday, July 6th. Wells Fargo & Company upped their target price on LandBridge from $90.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, March 18th. Finally, Zacks Research upgraded LandBridge from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, LandBridge presently has an average rating of "Hold" and an average price target of $76.17.

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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