Two Sigma Investments LP Makes New Investment in LandBridge Co LLC (NYSE:LB)

Two Sigma Investments LP acquired a new position in shares of LandBridge Co LLC (NYSE:LB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,708 shares of the company’s stock, valued at approximately $1,532,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LB. Hood River Capital Management LLC purchased a new position in shares of LandBridge during the fourth quarter worth about $41,431,000. Vanguard Group Inc. purchased a new position in shares of LandBridge during the fourth quarter worth about $38,480,000. First Manhattan CO. LLC. grew its holdings in shares of LandBridge by 23.5% during the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock worth $175,292,000 after buying an additional 516,380 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of LandBridge during the fourth quarter worth about $20,928,000. Finally, Oasis Management Co Ltd. purchased a new stake in LandBridge in the 4th quarter valued at approximately $18,832,000.

LandBridge Price Performance

LB stock opened at $72.57 on Wednesday. The firm has a 50 day moving average of $72.37 and a 200-day moving average of $70.15. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $87.60. 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 $5.31 billion and a price-to-earnings ratio of 20.39.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. LandBridge’s dividend payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. The Goldman Sachs Group lifted their price objective on LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, March 26th. Wells Fargo & Company lifted their price objective on LandBridge from $82.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Piper Sandler lowered 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, Johnson Rice lowered LandBridge from a “buy” rating to an “accumulate” rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Buying and Selling

In related news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction of $142,975,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 70.42% of the company’s stock.

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.