Heights Capital Management Inc. Makes New Investment in LandBridge Co LLC (NYSE:LB)

Heights Capital Management Inc. purchased a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 166,583 shares of the company's stock, valued at approximately $10,761,000. LandBridge makes up 5.4% of Heights Capital Management Inc.'s portfolio, making the stock its 4th biggest holding. Heights Capital Management Inc. owned about 0.23% of LandBridge at the end of the most recent quarter.

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 during the fourth quarter worth $50,000. Generali Investments Management Co LLC acquired a new position in LandBridge during the 4th quarter worth approximately $52,000. Mad River Investors raised its stake in shares of LandBridge by 0.4% during the 4th quarter. Mad River Investors now owns 233,452 shares of the company's stock worth $15,081,000 after buying an additional 902 shares in the last quarter. KBC Group NV acquired a new stake in shares of LandBridge in the 4th quarter valued at approximately $72,000. Finally, Blue Trust Inc. acquired a new stake in LandBridge in the fourth quarter valued at $110,000.

Analyst Upgrades and Downgrades

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

LandBridge Stock Performance

Shares of NYSE LB traded up $0.10 during trading hours on Friday, hitting $71.92. 229,828 shares of the stock were exchanged, compared to its average volume of 505,768. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge Co LLC has a one year low of $18.75 and a one year high of $84.70. The company's 50 day moving average is $69.03 and its 200 day moving average is $66.50. The firm has a market capitalization of $5.26 billion and a P/E ratio of 20.20.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge's payout ratio is presently 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.