PDT Partners LLC Invests $2.31 Million in LandBridge Co LLC (NYSE:LB)

PDT Partners LLC acquired a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 35,819 shares of the company's stock, valued at approximately $2,314,000.

Several other large investors have also made changes to their positions in the company. Legal & General Group Plc purchased a new stake in LandBridge during the 4th quarter worth $689,000. Tocqueville Asset Management L.P. grew its stake in shares of LandBridge by 7.6% in the fourth quarter. Tocqueville Asset Management L.P. now owns 88,190 shares of the company's stock valued at $5,697,000 after buying an additional 6,240 shares in the last quarter. Schwartz Investment Counsel Inc. raised its holdings in shares of LandBridge by 1.0% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock valued at $27,556,000 after buying an additional 4,400 shares during the period. Atlas Wealth Partners LLC acquired a new position in LandBridge during the 4th quarter worth approximately $443,000. Finally, Stratos Wealth Partners LTD. purchased a new position in LandBridge in the 4th quarter worth approximately $234,000.

Analyst Upgrades and Downgrades

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

LandBridge Stock Performance

Shares of LB stock traded down $0.99 on Monday, hitting $77.46. 136,361 shares of the stock traded hands, compared to its average volume of 501,026. The company's fifty day moving average is $69.78 and its 200 day moving average is $67.61. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70. The company has a market capitalization of $5.67 billion and a PE ratio of 21.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73.

LandBridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given 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 dividend yield of 0.52%. 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.