Raymond James Financial Inc. Makes New Investment in LandBridge Co LLC (NYSE:LB)

Raymond James Financial Inc. bought a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 323,969 shares of the company's stock, valued at approximately $20,928,000. Raymond James Financial Inc. owned 0.44% of LandBridge as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of LB. Sandbox Financial Partners LLC purchased a new position in LandBridge in the fourth quarter valued at about $637,000. Annex Advisory Services LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at about $1,165,000. Mad River Investors raised its holdings in shares of 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 buying an additional 902 shares during the period. Segment Wealth Management LLC acquired a new position in LandBridge during the 4th quarter worth approximately $323,000. Finally, KBC Group NV purchased a new position in LandBridge in the 4th quarter worth approximately $72,000.

Wall Street Analyst Weigh In

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

LandBridge Stock Performance

Shares of NYSE:LB traded up $2.16 on Thursday, reaching $72.14. 90,023 shares of the company's stock were exchanged, compared to its average volume of 638,361. LandBridge Co LLC has a fifty-two week low of $18.75 and a fifty-two week high of $84.70. The business's 50-day moving average is $69.00 and its two-hundred day moving average is $66.14. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $5.28 billion and a price-to-earnings ratio of 20.26.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.10 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. LandBridge's dividend 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.