PDT Partners LLC Acquires New Holdings in LandBridge Co LLC (NYSE:LB)

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

Other large investors have also made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in shares of LandBridge in the fourth quarter worth approximately $50,000. Generali Investments Management Co LLC purchased a new stake in LandBridge in the 4th quarter worth approximately $52,000. KBC Group NV acquired a new stake in shares of LandBridge during the 4th quarter valued at $72,000. Blue Trust Inc. acquired a new stake in shares of LandBridge during the 4th quarter valued at $110,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of LandBridge during the 4th quarter valued at $181,000.

Analyst Ratings Changes

A number of research firms recently issued reports on LB. Raymond James lifted 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. The Goldman Sachs Group boosted their price objective on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the company an "overweight" rating in a report on Friday, March 7th. Piper Sandler decreased their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Finally, Barclays upped their target price on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. One equities research 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. According to data from MarketBeat.com, LandBridge currently has a consensus rating of "Moderate Buy" and an average target price of $59.44.

LandBridge Trading Up 5.0 %

Shares of LB traded up $3.74 during trading hours on Friday, hitting $78.69. 285,039 shares of the stock traded hands, compared to its average volume of 502,726. The business has a fifty day moving average of $69.78 and a 200-day moving average of $67.39. The firm has a market capitalization of $5.76 billion and a PE ratio of 22.10. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70. 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 was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a dividend of $0.10 per share. 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.