4,879 Shares in LandBridge Co LLC (NYSE:LB) Bought by Malaga Cove Capital LLC

Malaga Cove Capital LLC bought a new position in LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,879 shares of the company's stock, valued at approximately $315,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in LandBridge in the 4th quarter worth about $50,000. Generali Investments Management Co LLC bought a new stake in shares of LandBridge during the 4th quarter valued at about $52,000. KBC Group NV purchased a new position in shares of LandBridge during the 4th quarter valued at about $72,000. Comerica Bank boosted its holdings in LandBridge by 29.7% during the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after acquiring an additional 265 shares during the period. Finally, Blue Trust Inc. bought a new position in shares of LandBridge during the fourth quarter valued at about $110,000.

LandBridge Price Performance

LB stock traded down $0.24 during trading hours on Tuesday, hitting $84.16. 191,440 shares of the stock traded hands, compared to its average volume of 497,601. LandBridge Co LLC has a one year low of $18.75 and a one year high of $87.08. The company has a market cap of $6.16 billion and a P/E ratio of 23.63. The stock has a 50-day simple moving average of $72.29 and a 200 day simple moving average of $69.41. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.48%. LandBridge's dividend payout ratio (DPR) is 11.24%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Raymond James raised their price objective on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. 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 note on Friday. Piper Sandler cut their target price on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. 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 note on Wednesday, March 26th. Finally, Barclays upped their price target on shares of LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $60.67.

LandBridge Company 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.