Legal & General Group Plc Acquires New Position in LandBridge Co LLC (NYSE:LB)

Legal & General Group Plc acquired a new stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,659 shares of the company's stock, valued at approximately $689,000.

Several other hedge funds have also recently made changes to their positions in the company. Sandbox Financial Partners LLC acquired a new stake in LandBridge during the 4th quarter valued at approximately $637,000. Annex Advisory Services LLC purchased a new position in LandBridge during the fourth quarter valued at approximately $1,165,000. Mad River Investors lifted its holdings in LandBridge by 0.4% in the fourth quarter. Mad River Investors now owns 233,452 shares of the company's stock valued at $15,081,000 after acquiring an additional 902 shares during the period. Segment Wealth Management LLC purchased a new stake in LandBridge in the 4th quarter worth approximately $323,000. Finally, KBC Group NV acquired a new stake in shares of LandBridge during the 4th quarter worth approximately $72,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Piper Sandler lowered their price target 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. Raymond James raised their target price on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Barclays lifted 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. 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. Finally, The Goldman Sachs Group upped their target price on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, LandBridge has an average rating of "Moderate Buy" and an average price target of $59.44.

LandBridge Price Performance

Shares of LandBridge stock traded up $2.71 during mid-day trading on Thursday, reaching $75.16. 408,905 shares of the stock traded hands, compared to its average volume of 503,756. 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 business has a 50-day moving average of $69.08 and a 200 day moving average of $67.00. The stock has a market capitalization of $5.50 billion and a PE ratio of 21.11. LandBridge Co LLC has a fifty-two week low of $18.75 and a fifty-two week high of $84.70.

LandBridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. LandBridge's payout ratio is currently 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.