Vanguard Group Inc. Increases Position in LandBridge Company LLC $LB

Key Points

• Vanguard Group Inc. increased its position in LandBridge Company LLC by 17.1% in the first quarter, holding 697,748 shares valued at approximately $50.2 million.
• LandBridge recently announced a quarterly dividend of $0.10 per share, leading to an annualized yield of 0.8%.
• Analysts have mixed views on LandBridge, with recent price targets ranging from $55 to $93, and the stock carries an average rating of "Hold."

Vanguard Group Inc. increased its stake in LandBridge Company LLC (NYSE:LB - Free Report) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 697,748 shares of the company's stock after purchasing an additional 102,085 shares during the quarter. Vanguard Group Inc. owned approximately 0.95% of LandBridge worth $50,196,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. US Bancorp DE bought a new stake in shares of LandBridge in the 1st quarter worth approximately $28,000. Comerica Bank raised its holdings in shares of 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 period. PNC Financial Services Group Inc. bought a new stake in shares of LandBridge in the 1st quarter worth approximately $102,000. Barclays PLC bought a new stake in shares of LandBridge in the 4th quarter worth approximately $180,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of LandBridge in the 4th quarter worth approximately $218,000.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price 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 lowered their target price on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Barclays lowered their target price on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Finally, Piper Sandler lowered their target price on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, LandBridge presently has a consensus rating of "Hold" and an average target price of $62.29.

LandBridge Price Performance

Shares of LB traded up $0.58 during mid-day trading on Friday, reaching $53.11. 238,935 shares of the stock traded hands, compared to its average volume of 553,172. The firm has a fifty day moving average price of $57.71 and a 200 day moving average price of $66.78. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 14.92 and a beta of 0.26. 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 1 year low of $32.28 and a 1 year high of $87.60.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th 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 0.8%. The ex-dividend date is Thursday, September 4th. LandBridge's payout ratio is 11.24%.

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.