Geode Capital Management LLC acquired a new position in LandBridge Co LLC (NYSE:LB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,267 shares of the company's stock, valued at approximately $1,180,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at about $50,000. Generali Investments Management Co LLC purchased a new position in shares of LandBridge during the 4th quarter worth $52,000. KBC Group NV purchased a new stake in shares of LandBridge during the 4th quarter valued at approximately $72,000. Blue Trust Inc. acquired a new position in LandBridge in the fourth quarter valued at approximately $110,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of LandBridge during the 4th quarter worth about $181,000.
Analyst Ratings Changes
LB has been the topic of several research reports. Raymond James increased their target price on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Wells Fargo & Company set a $82.00 price objective on LandBridge and gave the company an "overweight" rating in a report on Friday, March 7th. Piper Sandler reduced their price objective on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Barclays raised their price target on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group increased their target price on shares of LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, LandBridge has an average rating of "Moderate Buy" and a consensus price target of $59.44.
Check Out Our Latest Analysis on LB
LandBridge Price Performance
Shares of LB traded up $1.34 during trading hours on Tuesday, reaching $78.05. The company had a trading volume of 237,716 shares, compared to its average volume of 500,490. The firm has a 50 day simple moving average of $70.29 and a 200-day simple moving average of $67.83. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $84.70. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $5.71 billion and a price-to-earnings ratio of 21.92.
LandBridge Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 annualized dividend and a yield of 0.51%. LandBridge's dividend payout ratio is presently 11.24%.
LandBridge Profile
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Free Report)
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.
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