Penserra Capital Management LLC Makes New $1.79 Million Investment in LandBridge Company LLC (NYSE:LB)

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

Several other institutional investors have also recently modified their holdings of LB. Fairway Wealth LLC purchased a new stake in LandBridge in the 4th quarter worth approximately $50,000. Generali Investments Management Co LLC purchased a new stake in LandBridge in the 4th quarter worth approximately $52,000. Comerica Bank grew its stake in LandBridge by 29.7% in the 4th 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 purchased a new stake in LandBridge in the 4th quarter worth approximately $180,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in LandBridge in the 4th quarter worth approximately $181,000.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company lifted their target price 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. The Goldman Sachs Group boosted 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. Barclays boosted 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 cut 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 issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.67.

Insider Buying and Selling

In related news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction dated 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 is available through the SEC website. Company insiders own 70.42% of the company's stock.

LandBridge Stock Up 0.6%

NYSE:LB traded up $0.34 during mid-day trading on Thursday, reaching $62.00. The stock had a trading volume of 91,319 shares, compared to its average volume of 476,564. The company has a market capitalization of $4.54 billion and a price-to-earnings ratio of 17.41. LandBridge Company LLC has a 1-year low of $26.51 and a 1-year high of $87.60. The stock's 50 day simple moving average is $72.72 and its two-hundred day simple moving average is $70.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.70 and a quick ratio of 3.70.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were paid a $0.10 dividend. The ex-dividend date was Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.65%. LandBridge's dividend payout ratio (DPR) 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.