LandBridge Company LLC $LB Shares Sold by Yaupon Capital Management LP

Key Points

• Yaupon Capital Management LP significantly reduced its stake in LandBridge Company LLC by selling 222,175 shares, a decrease of 88.9% in the first quarter, leaving it with 27,700 shares valued at approximately $1.99 million.
• Multiple institutional investors, including US Bancorp DE and Deutsche Bank AG, added new stakes in LandBridge during the first quarter, indicating growing interest in the company.
• LandBridge recently announced a quarterly dividend of $0.10 per share, set to be paid on September 18th, which represents a modest annual yield of 0.8% with a low dividend payout ratio of 11.24%.

Yaupon Capital Management LP cut its stake in LandBridge Company LLC (NYSE:LB - Free Report) by 88.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,700 shares of the company's stock after selling 222,175 shares during the quarter. Yaupon Capital Management LP's holdings in LandBridge were worth $1,993,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. US Bancorp DE purchased a new position in LandBridge during the 1st quarter valued at $28,000. Uniplan Investment Counsel Inc. bought a new position in shares of LandBridge in the 1st quarter worth $30,000. Banque Transatlantique SA purchased a new stake in shares of LandBridge during the first quarter valued at about $34,000. Deutsche Bank AG purchased a new stake in LandBridge during the first quarter valued at approximately $55,000. Finally, Comerica Bank boosted its position 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 in the last quarter.

LandBridge Price Performance

Shares of LB stock traded down $0.65 during mid-day trading on Thursday, hitting $51.76. 220,897 shares of the stock were exchanged, compared to its average volume of 413,695. LandBridge Company LLC has a 52-week low of $34.00 and a 52-week high of $87.60. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.96 billion, a PE ratio of 14.54 and a beta of 0.25. The firm has a fifty day moving average of $55.14 and a 200 day moving average of $65.76.

LandBridge Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have weighed in on LB shares. Barclays dropped their target price on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Piper Sandler reduced their target price 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. Raymond James Financial lowered their price target 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 downgraded LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company lifted their price objective on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, LandBridge currently has an average rating of "Hold" and an average price target of $62.29.

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.