Summit Street Capital Management LLC Acquires New Shares in LandBridge Co LLC (NYSE:LB)

Summit Street Capital Management LLC acquired a new stake in LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 105,123 shares of the company's stock, valued at approximately $6,791,000. LandBridge comprises about 2.4% of Summit Street Capital Management LLC's portfolio, making the stock its 24th largest position. Summit Street Capital Management LLC owned 0.14% of LandBridge at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LB. Sandbox Financial Partners LLC acquired a new position in LandBridge in the fourth quarter valued at approximately $637,000. Annex Advisory Services LLC acquired a new position in LandBridge in the fourth quarter valued at approximately $1,165,000. Mad River Investors lifted its holdings in LandBridge by 0.4% in the fourth quarter. Mad River Investors now owns 233,452 shares of the company's stock valued at $15,081,000 after acquiring an additional 902 shares during the last quarter. Segment Wealth Management LLC acquired a new position in LandBridge in the fourth quarter valued at approximately $323,000. Finally, KBC Group NV acquired a new position in LandBridge in the fourth quarter valued at approximately $72,000.

LandBridge Stock Up 5.4%

LandBridge stock opened at $84.69 on Friday. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $85.22. The stock's fifty day simple moving average is $71.99 and its 200-day simple moving average is $69.12. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $6.20 billion and a P/E ratio of 23.79.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge's dividend payout ratio is currently 11.24%.

Analysts Set New Price Targets

LB has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a report on Friday. Piper Sandler decreased their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. The Goldman Sachs Group upped their price target on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Barclays upped 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, Raymond James upped their price target on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.67.

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.

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