LandBridge Co LLC (NYSE:LB) Stake Boosted by Comerica Bank

Comerica Bank increased its position in shares of LandBridge Co LLC (NYSE:LB) by 29.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,158 shares of the company’s stock after purchasing an additional 265 shares during the quarter. Comerica Bank’s holdings in LandBridge were worth $75,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. PDT Partners LLC acquired a new stake in LandBridge in the fourth quarter worth $2,314,000. Lido Advisors LLC acquired a new position in shares of LandBridge in the 4th quarter valued at $511,000. Northern Trust Corp acquired a new position in shares of LandBridge in the 4th quarter valued at $273,000. Tudor Investment Corp ET AL acquired a new stake in LandBridge during the 4th quarter worth about $2,858,000. Finally, Ghisallo Capital Management LLC boosted its position in LandBridge by 399.8% during the 4th quarter. Ghisallo Capital Management LLC now owns 249,875 shares of the company’s stock worth $16,142,000 after acquiring an additional 199,875 shares during the period.

Analyst Ratings Changes

A number of research firms have recently weighed in on LB. Barclays raised 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. Piper Sandler dropped 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. The Goldman Sachs Group lifted their price target on LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th. Wells Fargo & Company lifted their price objective on LandBridge from $82.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Raymond James lifted their price objective on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.67.

LandBridge Trading Up 5.4%

NYSE LB opened at $84.69 on Monday. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $85.22. The stock has a 50 day moving average of $71.99 and a 200-day moving average of $69.21. 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 company has a market cap of $6.20 billion and a PE ratio of 23.79.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Thursday, June 5th. LandBridge’s dividend payout ratio (DPR) 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.