Zuckerman Investment Group LLC Makes New Investment in LandBridge Company LLC $LB

Key Points

• Zuckerman Investment Group LLC acquired 4,900 shares of LandBridge Company LLC, valued at approximately $353,000, during the first quarter.
• Research analysts have varied outlooks on LandBridge's stock, with Wells Fargo raising its price objective to $93.00, while Barclays reduced its target to $66.00.
• LandBridge recently declared a $0.10 quarterly dividend, with an annualized yield of 0.8%, to be paid on September 18th.

Zuckerman Investment Group LLC bought a new position in shares of LandBridge Company LLC (NYSE:LB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,900 shares of the company's stock, valued at approximately $353,000.

Several other large investors also recently modified their holdings of the stock. Comerica Bank grew its holdings in shares of LandBridge by 29.7% during 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. Pekin Hardy Strauss Inc. boosted its stake in LandBridge by 2.1% in the first quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company's stock valued at $950,000 after buying an additional 275 shares in the last quarter. US Bancorp DE acquired a new stake in shares of LandBridge during the first quarter valued at about $28,000. Cortland Associates Inc. MO boosted its stake in shares of LandBridge by 0.5% during the first quarter. Cortland Associates Inc. MO now owns 151,269 shares of the company's stock valued at $10,882,000 after purchasing an additional 696 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of LandBridge during the first quarter valued at about $55,000.

Analyst Ratings Changes

A number of analysts have recently commented on LB shares. Barclays cut their price target on LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Wells Fargo & Company lifted their target price 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 target price on LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Finally, Raymond James Financial lowered their target price on LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $62.29.

LandBridge Stock Up 1.1%

Shares of NYSE LB traded up $0.58 during midday trading on Friday, hitting $53.11. 238,935 shares of the stock traded hands, compared to its average volume of 563,256. The company has a market cap of $4.07 billion, a PE ratio of 14.92 and a beta of 0.32. LandBridge Company LLC has a one year low of $32.28 and a one year high of $87.60. The business has a 50 day moving average price of $57.71 and a two-hundred day moving average price of $66.80. 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. The ex-dividend date is Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. LandBridge's payout ratio is currently 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.