Penserra Capital Management LLC Takes $1.79 Million Position in LandBridge Company LLC (NYSE:LB)

Penserra Capital Management LLC bought a new position in shares of LandBridge Company LLC (NYSE:LB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 24,863 shares of the company's stock, valued at approximately $1,788,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in LandBridge during the 4th quarter worth $50,000. Generali Investments Management Co LLC bought a new position in shares of LandBridge during the fourth quarter worth about $52,000. Comerica Bank lifted its stake in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after acquiring an additional 265 shares during the period. Barclays PLC bought a new stake in LandBridge in the fourth quarter valued at approximately $180,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in LandBridge during the 4th quarter valued at approximately $181,000.

Wall Street Analyst Weigh In

A number of analysts have commented on LB shares. Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Barclays cut their target price on LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday. Wells Fargo & Company boosted their price target on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group raised their price objective on shares of LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, LandBridge presently has a consensus rating of "Moderate Buy" and an average price target of $59.11.

LandBridge Stock Down 4.6%

NYSE LB traded down $2.85 on Friday, reaching $59.76. The company had a trading volume of 526,397 shares, compared to its average volume of 479,015. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.60. The company's fifty day moving average is $72.09 and its 200 day moving average is $70.60. LandBridge Company LLC has a 52-week low of $26.51 and a 52-week high of $87.60. The stock has a market capitalization of $4.57 billion and a P/E ratio of 16.79.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Thursday, June 5th. LandBridge's payout ratio is 11.24%.

Insider Activity

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the firm'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 filing with the Securities & Exchange Commission, which can be accessed through this link. 70.42% of the stock is currently owned by insiders.

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.