LPL Financial LLC Has $1.28 Million Holdings 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 lifted its holdings in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 69.7% in the first quarter, according to the company in its most recent filing 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 period. LPL Financial LLC's holdings in LandBridge were worth $1,283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Manhattan CO. LLC. lifted its holdings in shares of LandBridge by 23.5% during the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock worth $175,292,000 after acquiring an additional 516,380 shares during the period. Schwartz Investment Counsel Inc. increased its position in LandBridge by 19.9% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 511,268 shares of the company's stock worth $36,781,000 after purchasing an additional 84,700 shares in the last quarter. Oasis Management Co Ltd. acquired a new stake in LandBridge in the fourth quarter valued at approximately $18,832,000. Gilder Gagnon Howe & Co. LLC grew its position in LandBridge by 35.9% in 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 in the last quarter. Finally, Ghisallo Capital Management LLC grew its position in LandBridge by 399.8% in 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 in the last quarter.

Analyst Upgrades and Downgrades

LB has been the subject of a number of recent analyst reports. Wells Fargo & Company raised 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. Johnson Rice downgraded shares of LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Piper Sandler reduced their price target on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Raymond James Financial reduced their price objective on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, Barclays dropped 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 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. According to MarketBeat, LandBridge currently has an average rating of "Hold" and a consensus target price of $62.29.

LandBridge Stock Up 1.1%

Shares of NYSE LB traded up $0.58 during trading hours on Friday, hitting $53.11. The stock had a trading volume of 238,935 shares, compared to its average volume of 563,256. The company has a market capitalization of $4.07 billion, a P/E ratio of 14.92 and a beta of 0.32. The firm's 50-day moving average price is $57.71 and its two-hundred day moving average price is $66.82. LandBridge Company LLC has a 52 week low of $32.28 and a 52 week high of $87.60. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.26 and a current ratio of 4.26.

LandBridge Announces Dividend

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