Geode Capital Management LLC Acquires New Stake in LandBridge Co LLC (NYSE:LB)

Geode Capital Management LLC bought a new stake in LandBridge Co LLC (NYSE:LB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,267 shares of the company's stock, valued at approximately $1,180,000.

Several other institutional investors and hedge funds have also bought and sold shares of LB. Cannell & Spears LLC acquired a new stake in LandBridge in the 4th quarter worth approximately $640,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of LandBridge in the 4th quarter valued at $1,933,000. Vanguard Group Inc. purchased a new position in LandBridge in the 4th quarter worth $38,480,000. LPL Financial LLC grew its stake in LandBridge by 88.4% during the 4th quarter. LPL Financial LLC now owns 10,509 shares of the company's stock valued at $679,000 after purchasing an additional 4,931 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of LandBridge in the fourth quarter valued at about $181,000.

LandBridge Price Performance

LandBridge stock traded up $3.74 during trading on Friday, reaching $78.69. The company had a trading volume of 285,039 shares, compared to its average volume of 502,726. 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 simple moving average is $69.78 and its 200 day simple moving average is $67.50. The firm has a market capitalization of $5.76 billion and a PE ratio of 22.10. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. LandBridge's dividend payout ratio (DPR) is presently 11.24%.

Analyst Ratings Changes

A number of equities research analysts recently commented on LB shares. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an "overweight" rating in a research report on Friday, March 7th. Barclays raised their target price on shares of LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Raymond James upped their price target on shares of LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Piper Sandler decreased their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Finally, The Goldman Sachs Group raised their target price on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, LandBridge currently has an average rating of "Moderate Buy" and a consensus target price of $59.44.

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.