California State Teachers Retirement System Invests $1.05 Million in LandBridge Co LLC (NYSE:LB)

California State Teachers Retirement System acquired a new position in shares of LandBridge Co LLC (NYSE:LB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,231 shares of the company’s stock, valued at approximately $1,049,000.

A number of other hedge funds also recently made changes to their positions in LB. Fairway Wealth LLC acquired a new stake in LandBridge during the fourth quarter worth approximately $50,000. Generali Investments Management Co LLC acquired a new stake in LandBridge during the fourth quarter worth approximately $52,000. KBC Group NV acquired a new stake in LandBridge during the fourth quarter worth approximately $72,000. Comerica Bank grew its stake in LandBridge by 29.7% during the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock worth $75,000 after purchasing an additional 265 shares during the period. Finally, Blue Trust Inc. acquired a new stake in LandBridge during the fourth quarter worth approximately $110,000.

Analyst Ratings Changes

A number of equities research analysts have commented on LB shares. Wells Fargo & Company raised their price objective on LandBridge from $82.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Piper Sandler reduced their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Johnson Rice cut LandBridge from a “buy” rating to an “accumulate” rating in a research note on Wednesday, May 21st. The Goldman Sachs Group raised their price objective on LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Finally, Barclays raised their price objective on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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 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 document filed with the SEC, which is available through the SEC website. 70.42% of the stock is currently owned by corporate insiders.

LandBridge Stock Up 0.1%

Shares of NYSE:LB opened at $73.04 on Wednesday. The stock has a market cap of $5.34 billion and a price-to-earnings ratio of 20.52. 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 12-month low of $18.75 and a 12-month high of $87.60. The business’s 50 day moving average is $72.54 and its 200 day moving average is $70.31.

LandBridge Dividend Announcement

The business also recently announced 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 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.