Wells Fargo & Company MN Grows Stake in LandBridge Co LLC (NYSE:LB)

Wells Fargo & Company MN lifted its stake in shares of LandBridge Co LLC (NYSE:LB - Free Report) by 208.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,736 shares of the company's stock after purchasing an additional 13,336 shares during the period. Wells Fargo & Company MN's holdings in LandBridge were worth $1,275,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LB. Fairway Wealth LLC bought a new position in LandBridge during the fourth quarter valued at $50,000. Generali Investments Management Co LLC bought a new stake in LandBridge in the 4th quarter valued at about $52,000. KBC Group NV purchased a new stake in LandBridge during the fourth quarter valued at about $72,000. Blue Trust Inc. bought a new position in LandBridge during the fourth quarter worth about $110,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of LandBridge in the fourth quarter worth about $181,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LB shares. The Goldman Sachs Group upped their price target on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Raymond James increased their target price on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the company an "overweight" rating in a research report on Friday, March 7th. Piper Sandler dropped 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 lifted their target price on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a report 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 given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.44.

LandBridge Trading Up 3.0 %

Shares of LB opened at $74.14 on Tuesday. 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 1-year low of $18.75 and a 1-year high of $84.70. The company has a market capitalization of $5.42 billion and a P/E ratio of 20.83. The firm's 50 day simple moving average is $69.03 and its 200 day simple moving average is $66.77.

LandBridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Thursday, March 6th. LandBridge's dividend payout ratio is currently 11.24%.

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.

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