8,416 Shares in LandBridge Co LLC (NYSE:LB) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new stake in LandBridge Co LLC (NYSE:LB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,416 shares of the company's stock, valued at approximately $544,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank raised its stake in LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after purchasing an additional 265 shares during the last quarter. Fairway Wealth LLC acquired a new position in shares of LandBridge during the 4th quarter valued at about $50,000. Generali Investments Management Co LLC acquired a new position in shares of LandBridge during the 4th quarter valued at about $52,000. KBC Group NV acquired a new position in shares of LandBridge during the 4th quarter valued at about $72,000. Finally, Blue Trust Inc. acquired a new position in shares of LandBridge during the 4th quarter valued at about $110,000.

Insider Activity

In other news, Director David N. Capobianco sold 1,900,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction of $142,975,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 70.42% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler dropped their price objective on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group upped their price objective on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Wells Fargo & Company upped their price objective on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays upped their price objective on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Finally, Johnson Rice downgraded shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.67.

LandBridge Stock Up 2.1%

NYSE LB traded up $1.51 on Friday, reaching $73.41. The company had a trading volume of 389,101 shares, compared to its average volume of 494,699. The firm has a market capitalization of $5.37 billion and a PE ratio of 20.62. LandBridge Co LLC has a 1 year low of $18.75 and a 1 year high of $87.60. The firm has a 50-day moving average of $72.44 and a 200-day moving average of $70.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, June 5th. LandBridge's dividend payout ratio (DPR) is currently 11.24%.

About LandBridge

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.