Hood River Capital Management LLC Purchases Shares of 641,345 LandBridge Co LLC (NYSE:LB)

Hood River Capital Management LLC purchased a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 641,345 shares of the company's stock, valued at approximately $41,431,000. Hood River Capital Management LLC owned 0.88% of LandBridge as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC acquired a new position in LandBridge in the fourth quarter valued at about $50,000. Generali Investments Management Co LLC bought a new stake in shares of LandBridge during the 4th quarter worth approximately $52,000. KBC Group NV acquired a new stake in shares of LandBridge during the 4th quarter worth approximately $72,000. Blue Trust Inc. bought a new position in LandBridge in the fourth quarter valued at approximately $110,000. Finally, Barclays PLC acquired a new position in LandBridge during the fourth quarter valued at approximately $180,000.

LandBridge Trading Up 1.6 %

LB traded up $1.16 during trading on Monday, reaching $73.16. 174,290 shares of the stock traded hands, compared to its average volume of 504,223. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock's 50-day moving average is $69.03 and its 200 day moving average is $66.77. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $84.70. The stock has a market capitalization of $5.35 billion and a PE ratio of 20.56.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.40 annualized dividend and a yield of 0.55%. LandBridge's dividend payout ratio is currently 11.24%.

Analysts Set New Price Targets

A number of research firms have issued reports on LB. Piper Sandler decreased their target price on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. 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. Barclays upped their target price on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. The Goldman Sachs Group boosted their price target on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Finally, Raymond James upped their price objective on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, LandBridge presently has a consensus 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.