Walleye Capital LLC Purchases New Shares in LandBridge Company LLC $LB

Key Points

• Walleye Capital LLC has acquired a new stake in LandBridge Company LLC valued at approximately $810,000, purchasing 11,263 shares during the first quarter.
• LandBridge has announced a quarterly dividend of $0.10 per share, which will be paid on September 18th, representing a 0.8% yield.
• Several analysts have adjusted their price targets for LandBridge, with current consensus rating at "Hold" and an average price target of $62.29.

Walleye Capital LLC bought a new position in LandBridge Company LLC (NYSE:LB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 11,263 shares of the company's stock, valued at approximately $810,000.

Other hedge funds have also bought and sold shares of the company. US Bancorp DE purchased a new position in LandBridge in the 1st quarter worth about $28,000. Deutsche Bank AG purchased a new position in LandBridge in the 1st quarter worth about $55,000. Comerica Bank raised 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 buying an additional 265 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in LandBridge in the 1st quarter worth about $102,000. Finally, Caitong International Asset Management Co. Ltd raised its position in LandBridge by 8,533.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,554 shares of the company's stock worth $112,000 after buying an additional 1,536 shares during the last quarter.

Analysts Set New Price Targets

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

LandBridge Price Performance

Shares of LB traded down $1.73 during mid-day trading on Friday, hitting $52.44. 70,358 shares of the stock were exchanged, compared to its average volume of 578,687. The company has a market cap of $4.01 billion, a PE ratio of 14.78 and a beta of 0.25. LandBridge Company LLC has a 52-week low of $32.28 and a 52-week high of $87.60. The firm has a 50-day moving average of $56.64 and a two-hundred day moving average of $66.38. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.26 and a current ratio of 4.26.

LandBridge Dividend Announcement

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