LPL Financial LLC Buys 7,320 Shares of LandBridge Company LLC $LB

LPL Financial LLC grew its stake in LandBridge Company LLC (NYSE:LB) by 69.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,829 shares of the company’s stock after acquiring an additional 7,320 shares during the period. LPL Financial LLC’s holdings in LandBridge were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of LB. First Manhattan CO. LLC. raised its holdings in LandBridge by 23.5% during the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock worth $175,292,000 after purchasing an additional 516,380 shares during the last quarter. Oasis Management Co Ltd. acquired a new stake in shares of LandBridge during the 4th quarter worth approximately $18,832,000. Ghisallo Capital Management LLC grew its position in shares of 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 buying an additional 199,875 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of LandBridge during the fourth quarter worth approximately $12,676,000. Finally, Annex Advisory Services LLC lifted its holdings in LandBridge by 907.2% in the first quarter. Annex Advisory Services LLC now owns 181,703 shares of the company’s stock valued at $13,072,000 after buying an additional 163,662 shares during the period.

LandBridge Trading Up 1.6%

NYSE:LB opened at $53.8860 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. The business’s 50-day simple moving average is $59.50 and its 200-day simple moving average is $67.39. LandBridge Company LLC has a fifty-two week low of $32.28 and a fifty-two week high of $87.60. The stock has a market capitalization of $4.12 billion, a PE ratio of 15.14 and a beta of 0.32.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. LandBridge’s payout ratio is presently 11.24%.

Analyst Ratings Changes

Several brokerages have commented on LB. Wells Fargo & Company upped their target price on shares of LandBridge from $82.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Raymond James Financial dropped their price objective on LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Barclays cut their target price on LandBridge from $80.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. Piper Sandler decreased their target price on LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Finally, Johnson Rice downgraded shares of LandBridge from a “buy” rating to an “accumulate” rating in a research report on Wednesday, May 21st. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.29.

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.