Two Sigma Advisers LP Acquires Shares of 27,300 LandBridge Co LLC (NYSE:LB)

Two Sigma Advisers LP purchased a new stake in LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 27,300 shares of the company's stock, valued at approximately $1,764,000.

Other hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC acquired a new stake in LandBridge during the 4th quarter worth approximately $41,431,000. Vanguard Group Inc. bought a new position in LandBridge during the 4th quarter worth approximately $38,480,000. First Manhattan CO. LLC. raised its holdings in LandBridge by 23.5% during the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock worth $175,292,000 after purchasing an additional 516,380 shares during the last quarter. Raymond James Financial Inc. bought a new position in LandBridge during the 4th quarter worth approximately $20,928,000. Finally, Oasis Management Co Ltd. bought a new stake in shares of LandBridge in the 4th quarter valued at $18,832,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LB shares. Wells Fargo & Company lifted their price objective on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Johnson Rice lowered shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group lifted 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. Piper Sandler lowered their price objective on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Finally, Barclays boosted their price target 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. One research 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. According to data from MarketBeat.com, LandBridge presently has a consensus rating of "Moderate Buy" and an average target price of $60.67.

Insider Buying and Selling

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the company'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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 70.42% of the stock is owned by insiders.

LandBridge Stock Down 0.4%

Shares of NYSE LB traded down $0.32 during trading on Tuesday, hitting $72.57. The stock had a trading volume of 352,041 shares, compared to its average volume of 496,599. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $87.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $5.31 billion and a PE ratio of 20.39. The firm has a fifty day moving average of $72.37 and a two-hundred day moving average of $70.15.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, June 5th. LandBridge's dividend payout ratio (DPR) is currently 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.