T. Rowe Price Investment Management Inc. Buys 1,171,142 Shares of LandBridge Company LLC $LB

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in LandBridge Company LLC by 5,290.4% during the first quarter, owning approximately 1.63% of the company valued at $85,845,000 at the end of the reporting period.
• LandBridge recently announced a quarterly dividend of $0.10 per share, with a dividend yield of 0.8% and a payout ratio of 11.24%.
• Analyst sentiment on LandBridge shares varies, with four analysts rating it as a Buy and a consensus target price of $62.29.

T. Rowe Price Investment Management Inc. raised its holdings in LandBridge Company LLC (NYSE:LB - Free Report) by 5,290.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,193,279 shares of the company's stock after purchasing an additional 1,171,142 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.63% of LandBridge worth $85,845,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of LB. US Bancorp DE acquired a new stake in shares of LandBridge in the 1st quarter valued at $28,000. Deutsche Bank AG acquired a new stake in shares of LandBridge during the 1st quarter valued at $55,000. Comerica Bank boosted its holdings in shares of 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 in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of LandBridge during the 1st quarter valued at $102,000. Finally, Caitong International Asset Management Co. Ltd raised its position in LandBridge by 8,533.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,554 shares of the company's stock worth $112,000 after purchasing an additional 1,536 shares during the last quarter.

Analyst Ratings Changes

Several research analysts recently issued reports on LB shares. Barclays lowered their target price on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Johnson Rice lowered LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Raymond James Financial lowered their price objective on LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company lifted their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Piper Sandler lowered their price objective on LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $62.29.

LandBridge Stock Up 1.6%

LB stock traded up $0.8360 during mid-day trading on Friday, reaching $53.8860. 295,374 shares of the company traded hands, compared to its average volume of 645,802. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 15.14 and a beta of 0.32. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54. LandBridge Company LLC has a fifty-two week low of $32.28 and a fifty-two week high of $87.60. The firm's 50 day moving average price is $59.50 and its 200 day moving average price is $67.39.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 4th. LandBridge's payout ratio is presently 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.