Penserra Capital Management LLC Makes New Investment in LandBridge Company LLC (NYSE:LB)

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

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

Analysts Set New Price Targets

LB has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. Johnson Rice lowered shares of LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Barclays raised their price target on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company boosted their price target on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. One 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.67.

LandBridge Stock Down 3.0%

Shares of NYSE LB traded down $1.93 during trading on Wednesday, reaching $61.47. The company had a trading volume of 447,139 shares, compared to its average volume of 477,367. LandBridge Company LLC has a 12-month low of $26.04 and a 12-month high of $87.60. 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 business's 50-day moving average is $72.95 and its 200 day moving average is $70.57. The stock has a market cap of $4.50 billion and a PE ratio of 17.27.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, June 5th. LandBridge's payout ratio is currently 11.24%.

Insider Buying and Selling

In other news, Director David N. Capobianco sold 1,900,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $75.25, for a total transaction of $142,975,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 70.42% of the company's stock.

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.