LandBridge Company LLC (NYSE:LB) Stock Holdings Lifted by Malaga Cove Capital LLC

Key Points

• Malaga Cove Capital LLC increased its stake in LandBridge Company LLC by 147.1% during the 1st quarter, acquiring an additional 7,178 shares, bringing its total holdings to 12,057 shares valued at $867,000.
• Analysts have mixed opinions on LandBridge, with Wells Fargo raising their price target to $93.00 and Barclays lowering it to $66.00, resulting in an average rating of "Hold" with a consensus target price of $65.86.
• The company recently announced a quarterly dividend of $0.10, yielding 0.7%, with a dividend payout ratio of 11.24% for shareholders of record as of June 5th.

Malaga Cove Capital LLC boosted its position in LandBridge Company LLC (NYSE:LB - Free Report) by 147.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,057 shares of the company's stock after buying an additional 7,178 shares during the quarter. Malaga Cove Capital LLC's holdings in LandBridge were worth $867,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in LandBridge in the first quarter valued at approximately $102,000. EagleClaw Capital Managment LLC boosted its position in shares of LandBridge by 10.3% during the first quarter. EagleClaw Capital Managment LLC now owns 109,475 shares of the company's stock worth $7,876,000 after buying an additional 10,250 shares during the period. US Bancorp DE acquired a new position in shares of LandBridge during the first quarter worth approximately $28,000. LPL Financial LLC boosted its position in shares of LandBridge by 69.7% during the first quarter. LPL Financial LLC now owns 17,829 shares of the company's stock worth $1,283,000 after buying an additional 7,320 shares during the period. Finally, one8zero8 LLC boosted its position in shares of LandBridge by 7.1% during the first quarter. one8zero8 LLC now owns 52,861 shares of the company's stock worth $3,803,000 after buying an additional 3,507 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LB. Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Barclays reduced their price objective on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Finally, Wells Fargo & Company boosted their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, LandBridge presently has a consensus rating of "Hold" and an average target price of $65.86.

Insiders Place Their Bets

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 70.42% of the stock is owned by company insiders.

LandBridge Price Performance

LB traded up $2.41 during trading on Monday, reaching $57.80. The stock had a trading volume of 318,259 shares, compared to its average volume of 779,536. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 16.24 and a beta of 0.32. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.60. LandBridge Company LLC has a 1-year low of $28.01 and a 1-year high of $87.60. The stock has a 50 day moving average of $64.97 and a two-hundred day moving average of $69.05.

LandBridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, June 5th. LandBridge's dividend payout ratio is 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.