BNP Paribas Financial Markets Purchases New Holdings in LandBridge Co LLC (NYSE:LB)

BNP Paribas Financial Markets purchased a new stake in LandBridge Co LLC (NYSE:LB) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,300 shares of the company’s stock, valued at approximately $168,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Horizon Kinetics Asset Management LLC boosted its stake in LandBridge by 10.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after purchasing an additional 484,968 shares during the period. FMR LLC raised its stake in LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after acquiring an additional 686,070 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in shares of LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after acquiring an additional 363,345 shares during the last quarter. Mad River Investors acquired a new stake in shares of LandBridge in the 3rd quarter valued at approximately $9,097,000. Finally, Raymond James & Associates grew its holdings in shares of LandBridge by 9.2% during the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock valued at $8,972,000 after purchasing an additional 19,350 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on LB shares. Barclays upped their target price on LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Piper Sandler upped their price objective on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group lifted their target price on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th. Finally, Citigroup lifted their price target on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, LandBridge has an average rating of “Moderate Buy” and a consensus target price of $40.00.

LandBridge Stock Performance

Shares of LandBridge stock opened at $57.62 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $80.82. The firm has a 50 day moving average price of $61.96. The firm has a market capitalization of $4.22 billion and a PE ratio of 16.19.

LandBridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.69%. LandBridge’s 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.