Sei Investments Co. Invests $568,000 in LandBridge Co LLC (NYSE:LB)

Sei Investments Co. purchased a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 8,791 shares of the company's stock, valued at approximately $568,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LB. Horizon Kinetics Asset Management LLC grew its holdings in LandBridge by 4.0% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock worth $348,793,000 after buying an additional 208,408 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in LandBridge by 1.0% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock valued at $27,556,000 after purchasing an additional 4,400 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in LandBridge during the 4th quarter worth about $20,928,000. Burkehill Global Management LP bought a new position in shares of LandBridge in the fourth quarter valued at approximately $15,262,000. Finally, Boston Financial Mangement LLC purchased a new position in shares of LandBridge during the 4th quarter valued at $15,276,000.

LandBridge Trading Up 0.3 %

Shares of LB stock traded up $0.19 on Tuesday, reaching $68.11. 22,457 shares of the company's stock were exchanged, compared to its average volume of 511,590. The company's fifty day simple moving average is $69.21 and its 200 day simple moving average is $65.25. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $4.98 billion and a PE ratio of 19.12. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $84.70.

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 issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. LandBridge's dividend payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LB. Raymond James increased their target price on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Barclays upped their price target on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. 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. Piper Sandler reduced their price target 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. Finally, The Goldman Sachs Group lifted their price target on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.44.

LandBridge Company 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.