Monashee Investment Management LLC Purchases New Holdings in LandBridge Co LLC (NYSE:LB)

Monashee Investment Management LLC purchased 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 institutional investor purchased 124,937 shares of the company's stock, valued at approximately $8,071,000. LandBridge accounts for 1.1% of Monashee Investment Management LLC's investment portfolio, making the stock its 11th biggest position. Monashee Investment Management LLC owned approximately 0.17% of LandBridge as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank lifted its holdings in shares of LandBridge by 29.7% in 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 last quarter. Fairway Wealth LLC purchased a new position in shares of LandBridge during the fourth quarter worth approximately $50,000. Generali Investments Management Co LLC purchased a new position in shares of LandBridge during the fourth quarter valued at $52,000. Mad River Investors increased its position in LandBridge by 0.4% during 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 bought a new stake in LandBridge during the 4th quarter valued at $72,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on LB. The Goldman Sachs Group increased their price target on 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 shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. Raymond James lifted their price target on shares of LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the stock an "overweight" rating in a research report on Friday, March 7th. Finally, Piper Sandler cut their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.44.

LandBridge Price Performance

Shares of LB stock traded down $1.77 during trading hours on Monday, hitting $76.67. The company's stock had a trading volume of 161,679 shares, compared to its average volume of 501,154. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70. The stock has a market cap of $5.61 billion and a price-to-earnings ratio of 21.55. The business has a fifty day moving average of $69.78 and a 200-day moving average of $67.61. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.52%. LandBridge's payout ratio is currently 11.24%.

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.