Jane Street Group LLC Acquires Shares of 67,772 LandBridge Co LLC (NYSE:LB)

Jane Street Group LLC purchased a new stake in LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 67,772 shares of the company's stock, valued at approximately $4,378,000. Jane Street Group LLC owned approximately 0.09% of LandBridge at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of LandBridge during the 4th quarter worth approximately $689,000. Tocqueville Asset Management L.P. boosted its holdings in LandBridge by 7.6% in the 4th quarter. Tocqueville Asset Management L.P. now owns 88,190 shares of the company's stock valued at $5,697,000 after purchasing an additional 6,240 shares during the period. Schwartz Investment Counsel Inc. grew its position in LandBridge by 1.0% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock worth $27,556,000 after buying an additional 4,400 shares in the last quarter. Atlas Wealth Partners LLC bought a new position in shares of LandBridge in the fourth quarter worth $443,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of LandBridge during the 4th quarter worth approximately $234,000.

LandBridge Stock Up 2.8%

Shares of LB stock traded up $2.22 during mid-day trading on Friday, hitting $82.54. The company's stock had a trading volume of 138,840 shares, compared to its average volume of 594,799. The business has a 50-day moving average price of $71.65 and a 200 day moving average price of $68.81. 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 stock has a market cap of $6.04 billion and a price-to-earnings ratio of 23.18. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $84.70.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a $0.10 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. LandBridge's dividend payout ratio is currently 11.24%.

Analysts Set New Price Targets

A number of brokerages have recently commented on LB. Barclays increased their price target on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. The Goldman Sachs Group upped their target price on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Wells Fargo & Company increased their price objective on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday. Piper Sandler dropped their price objective on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Finally, Raymond James upped their price target on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.67.

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.