LandBridge Company LLC $LB Shares Purchased by T. Rowe Price Investment Management Inc.

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. boosted its position in LandBridge Company LLC (NYSE:LB - Free Report) by 5,290.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,193,279 shares of the company's stock after buying an additional 1,171,142 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.63% of LandBridge worth $85,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Comerica Bank grew its position 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 purchasing an additional 265 shares during the last quarter. Pekin Hardy Strauss Inc. grew its position in LandBridge by 2.1% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company's stock worth $950,000 after purchasing an additional 275 shares during the last quarter. US Bancorp DE acquired a new stake in LandBridge in the 1st quarter worth $28,000. Cortland Associates Inc. MO grew its position in LandBridge by 0.5% in the 1st quarter. Cortland Associates Inc. MO now owns 151,269 shares of the company's stock worth $10,882,000 after purchasing an additional 696 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in LandBridge in the 1st quarter worth $55,000.

Analyst Ratings Changes

LB has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Wells Fargo & Company upped their price target on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Raymond James Financial cut their price objective on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Johnson Rice downgraded shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Finally, Barclays dropped their price objective on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $62.29.

LandBridge Price Performance

LB traded down $0.84 on Wednesday, hitting $51.78. 52,339 shares of the company's stock traded hands, compared to its average volume of 588,570. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54. LandBridge Company LLC has a one year low of $32.28 and a one year high of $87.60. The company's 50 day simple moving average is $58.78 and its 200-day simple moving average is $67.20. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 14.59 and a beta of 0.32.

LandBridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. LandBridge's payout ratio is presently 11.24%.

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.