171,300 Shares in LandBridge Co LLC (NYSE:LB) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in LandBridge Co LLC (NYSE:LB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 171,300 shares of the company's stock, valued at approximately $11,066,000. Renaissance Technologies LLC owned 0.23% of LandBridge at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LB. BNP Paribas Financial Markets bought a new position in shares of LandBridge during the third quarter worth approximately $168,000. Sandbox Financial Partners LLC acquired a new stake in LandBridge during the fourth quarter worth approximately $637,000. Annex Advisory Services LLC bought a new position in LandBridge during the 4th quarter worth $1,165,000. Mad River Investors raised its holdings in LandBridge by 0.4% in the 4th quarter. Mad River Investors now owns 233,452 shares of the company's stock valued at $15,081,000 after acquiring an additional 902 shares in the last quarter. Finally, Segment Wealth Management LLC acquired a new position in LandBridge in the 4th quarter valued at $323,000.

Analyst Upgrades and Downgrades

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

LandBridge Price Performance

Shares of NYSE LB traded up $2.87 during mid-day trading on Tuesday, hitting $68.28. 347,827 shares of the stock traded hands, compared to its average volume of 508,693. The firm has a 50 day simple moving average of $69.03 and a two-hundred day simple moving average of $66.10. 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 Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70. The company has a market cap of $5.00 billion and a PE ratio of 19.18.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge's payout ratio is presently 11.24%.

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.