Two Sigma Investments LP Invests $1.53 Million in LandBridge Co LLC (NYSE:LB)

Two Sigma Investments LP acquired a new stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,708 shares of the company's stock, valued at approximately $1,532,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LB. Fairway Wealth LLC acquired a new position in LandBridge during the fourth quarter worth $50,000. Generali Investments Management Co LLC bought a new stake in shares of LandBridge in the 4th quarter valued at $52,000. KBC Group NV bought a new stake in shares of LandBridge in the fourth quarter worth about $72,000. Comerica Bank lifted its position in LandBridge by 29.7% in 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. Finally, Blue Trust Inc. acquired a new position in LandBridge during the 4th quarter worth approximately $110,000.

LandBridge Stock Performance

Shares of NYSE LB traded up $1.90 during trading on Friday, reaching $73.80. The stock had a trading volume of 189,629 shares, compared to its average volume of 493,887. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The firm's 50 day moving average price is $72.42 and its two-hundred day moving average price is $70.20. The stock has a market cap of $5.40 billion and a PE ratio of 20.75. LandBridge Co LLC has a one year low of $18.75 and a one year high of $87.60.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge's dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LB. The Goldman Sachs Group increased their target price on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Wells Fargo & Company boosted their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays lifted their price objective on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Piper Sandler cut their price target on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Johnson Rice cut 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 assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, LandBridge currently has an average rating of "Moderate Buy" and an average price target of $60.67.

Insider Buying and Selling at LandBridge

In related news, Director David N. Capobianco sold 1,900,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 70.42% of the company's stock.

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.