Deutsche Bank AG Takes Position in LandBridge Company LLC $LB

Deutsche Bank AG purchased a new position in shares of LandBridge Company LLC (NYSE:LB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 763 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds have also recently bought and sold shares of LB. Comerica Bank increased its stake in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after purchasing an additional 265 shares during the period. Pekin Hardy Strauss Inc. grew its holdings in LandBridge by 2.1% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company’s stock worth $950,000 after buying an additional 275 shares in the last quarter. US Bancorp DE acquired a new stake in LandBridge in the 1st quarter valued at approximately $28,000. Cortland Associates Inc. MO raised its stake in LandBridge by 0.5% during the 1st quarter. Cortland Associates Inc. MO now owns 151,269 shares of the company’s stock valued at $10,882,000 after acquiring an additional 696 shares in the last quarter. Finally, Mad River Investors boosted its position in LandBridge by 0.3% during the 1st quarter. Mad River Investors now owns 234,253 shares of the company’s stock worth $16,852,000 after acquiring an additional 801 shares during the period.

LandBridge Price Performance

Shares of LandBridge stock opened at $53.11 on Tuesday. LandBridge Company LLC has a 52 week low of $32.28 and a 52 week high of $87.60. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54. The stock has a market cap of $4.07 billion, a PE ratio of 14.92 and a beta of 0.26. The company’s 50-day moving average price is $57.43 and its two-hundred day moving average price is $66.66.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.8%. LandBridge’s dividend payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

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

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.