Moore Capital Management LP Buys Shares of 124,937 LandBridge Co LLC (NYSE:LB)

Moore Capital Management LP purchased 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 purchased 124,937 shares of the company's stock, valued at approximately $8,071,000. Moore Capital Management LP owned approximately 0.17% of LandBridge at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in LandBridge during the fourth quarter valued at about $50,000. Generali Investments Management Co LLC acquired a new stake in LandBridge in the fourth quarter worth about $52,000. KBC Group NV acquired a new stake in LandBridge in the fourth quarter worth about $72,000. Comerica Bank boosted its holdings 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 acquiring an additional 265 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in LandBridge in the fourth quarter worth about $110,000.

LandBridge Price Performance

Shares of LB traded up $4.37 during trading hours on Friday, hitting $84.69. 503,411 shares of the stock were exchanged, compared to its average volume of 498,861. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $85.22. The company has a market cap of $6.20 billion and a price-to-earnings ratio of 23.79. The stock's 50-day moving average price is $71.99 and its two-hundred day moving average price is $69.02.

LandBridge Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have weighed in on LB. Wells Fargo & Company raised their price target on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday. Barclays raised 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. The Goldman Sachs Group raised their price objective on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Raymond James raised their price objective on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Finally, Piper Sandler reduced their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, LandBridge currently has a consensus 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.