Monashee Investment Management LLC Makes New $8.07 Million Investment in LandBridge Co LLC (NYSE:LB)

Monashee Investment Management LLC acquired a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 124,937 shares of the company's stock, valued at approximately $8,071,000. LandBridge comprises about 1.1% of Monashee Investment Management LLC's portfolio, making the stock its 11th biggest position. Monashee Investment Management LLC owned approximately 0.17% of LandBridge as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in LandBridge in the fourth quarter valued at about $50,000. Generali Investments Management Co LLC acquired a new position in LandBridge during the 4th quarter valued at about $52,000. KBC Group NV bought a new position in shares of LandBridge in the 4th quarter valued at about $72,000. Comerica Bank grew its position in shares of LandBridge by 29.7% during the 4th 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. Finally, Blue Trust Inc. bought a new stake in shares of LandBridge during the fourth quarter worth approximately $110,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Barclays lifted their price objective on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Piper Sandler dropped their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the stock an "overweight" rating in a report on Friday, March 7th. Finally, Raymond James upped their price target on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.44.

LandBridge Stock Up 5.0 %

Shares of LB stock traded up $3.74 during trading hours on Friday, hitting $78.69. 285,039 shares of the company were exchanged, compared to its average volume of 502,726. The company has a market capitalization of $5.76 billion and a PE ratio of 22.10. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $84.70. The business has a 50 day moving average of $69.78 and a two-hundred day moving average of $67.39. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Thursday, March 6th. LandBridge's dividend payout ratio is 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.