Balyasny Asset Management L.P. Sells 82,914 Shares of LandBridge Co LLC (NYSE:LB)

Balyasny Asset Management L.P. cut its position in shares of LandBridge Co LLC (NYSE:LB - Free Report) by 86.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,540 shares of the company's stock after selling 82,914 shares during the quarter. Balyasny Asset Management L.P.'s holdings in LandBridge were worth $810,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Comerica Bank increased its position in LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after buying an additional 265 shares during the period. Fairway Wealth LLC acquired a new position in shares of LandBridge in the 4th quarter valued at $50,000. Generali Investments Management Co LLC acquired a new position in shares of LandBridge in the 4th quarter valued at $52,000. Mad River Investors boosted its position in shares of LandBridge by 0.4% in the 4th quarter. Mad River Investors now owns 233,452 shares of the company's stock valued at $15,081,000 after purchasing an additional 902 shares during the period. Finally, KBC Group NV acquired a new position in shares of LandBridge in the 4th quarter valued at $72,000.

LandBridge Stock Performance

Shares of LB traded up $1.05 on Tuesday, reaching $85.44. 115,362 shares of the stock traded hands, compared to its average volume of 497,256. The firm has a market cap of $6.25 billion and a price-to-earnings ratio of 23.97. 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 12 month low of $18.75 and a 12 month high of $87.08. The stock's 50-day moving average price is $72.29 and its 200-day moving average price is $69.41.

LandBridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge's dividend payout ratio is currently 11.24%.

Analysts Set New Price Targets

A number of brokerages have commented on LB. Raymond James raised their price objective on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Barclays raised their price objective on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. Wells Fargo & Company raised their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday. Piper Sandler reduced their price target 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 lifted their price target on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.67.

LandBridge Profile

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.