24,863 Shares in LandBridge Company LLC (NYSE:LB) Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC acquired a new stake in shares of LandBridge Company LLC (NYSE:LB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,863 shares of the company's stock, valued at approximately $1,788,000.

Other institutional investors also recently bought and sold shares of the company. Comerica Bank lifted its stake in LandBridge by 29.7% during the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after acquiring an additional 265 shares during the period. Fairway Wealth LLC bought a new position in LandBridge during the 4th quarter valued at about $50,000. Generali Investments Management Co LLC bought a new position in LandBridge during the 4th quarter valued at about $52,000. Mad River Investors lifted its stake in LandBridge by 0.3% during the 1st quarter. Mad River Investors now owns 234,253 shares of the company's stock valued at $16,852,000 after acquiring an additional 801 shares during the period. Finally, Canton Hathaway LLC lifted its stake in LandBridge by 25.2% during the 1st quarter. Canton Hathaway LLC now owns 4,081 shares of the company's stock valued at $294,000 after acquiring an additional 821 shares during the period.

Insiders Place Their Bets

In other news, Director David N. Capobianco sold 1,900,000 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were 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 SEC, which is available through the SEC website. Corporate insiders own 70.42% of the company's stock.

LandBridge Stock Performance

NYSE LB traded down $2.85 on Friday, reaching $59.76. 526,368 shares of the stock were exchanged, compared to its average volume of 555,119. LandBridge Company LLC has a one year low of $26.51 and a one year high of $87.60. The firm has a market capitalization of $4.37 billion and a PE ratio of 16.79. The company's 50-day simple moving average is $72.47 and its two-hundred day simple moving average is $70.54. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.60.

LandBridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, June 5th. LandBridge's payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their target price 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. Barclays lowered 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 note on Thursday. Wells Fargo & Company increased their price objective on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $59.11.

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.