LPL Financial LLC Increases Stake in LandBridge Company LLC $LB

Key Points

• LPL Financial LLC increased its stake in LandBridge Company LLC by 69.7% in Q1, now holding 17,829 shares valued at approximately $1.283 million.
• LandBridge recently declared a quarterly dividend of $0.10, with an annualized yield of 0.7% and a payout ratio of 11.24%.
• Analyst ratings for LandBridge vary, with Wells Fargo raising the target price to $93, while others, like Barclays, have lowered their estimates significantly.

LPL Financial LLC raised its position in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 69.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,829 shares of the company's stock after purchasing an additional 7,320 shares during the quarter. LPL Financial LLC's holdings in LandBridge were worth $1,283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Manhattan CO. LLC. increased its position in LandBridge by 23.5% in the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock worth $175,292,000 after purchasing an additional 516,380 shares during the last quarter. Schwartz Investment Counsel Inc. increased its position in LandBridge by 19.9% during the first quarter. Schwartz Investment Counsel Inc. now owns 511,268 shares of the company's stock valued at $36,781,000 after acquiring an additional 84,700 shares during the last quarter. Oasis Management Co Ltd. bought a new position in LandBridge during the fourth quarter valued at $18,832,000. Gilder Gagnon Howe & Co. LLC increased its position in LandBridge by 35.9% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 278,856 shares of the company's stock valued at $18,014,000 after acquiring an additional 73,651 shares during the last quarter. Finally, Ghisallo Capital Management LLC increased its position in LandBridge by 399.8% during the fourth quarter. Ghisallo Capital Management LLC now owns 249,875 shares of the company's stock valued at $16,142,000 after acquiring an additional 199,875 shares during the last quarter.

Wall Street Analysts Forecast Growth

LB has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Raymond James Financial cut their price objective on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Barclays cut their price objective 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. Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Finally, Piper Sandler cut their price objective on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, LandBridge presently has a consensus rating of "Hold" and a consensus price target of $62.29.

LandBridge Stock Up 1.9%

NYSE:LB traded up $1.01 during mid-day trading on Thursday, reaching $52.86. The company's stock had a trading volume of 129,086 shares, compared to its average volume of 586,764. LandBridge Company LLC has a 1 year low of $32.28 and a 1 year high of $87.60. The stock has a fifty day moving average of $58.40 and a 200-day moving average of $67.09. The firm has a market capitalization of $4.05 billion, a PE ratio of 14.85 and a beta of 0.32. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54.

LandBridge Dividend Announcement

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