Janney Montgomery Scott LLC Increases Position in LandBridge Company LLC $LB

Janney Montgomery Scott LLC raised its position in LandBridge Company LLC (NYSE:LB) by 21.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,822 shares of the company’s stock after purchasing an additional 4,662 shares during the period. Janney Montgomery Scott LLC’s holdings in LandBridge were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of LB. Avondale Wealth Management acquired a new stake in LandBridge during the 2nd quarter worth $81,000. Ipswich Investment Management Co. Inc. lifted its stake in shares of LandBridge by 19.7% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 22,267 shares of the company’s stock worth $1,505,000 after acquiring an additional 3,660 shares during the period. Annex Advisory Services LLC increased its holdings in shares of LandBridge by 14.8% in the 2nd quarter. Annex Advisory Services LLC now owns 208,586 shares of the company’s stock valued at $14,096,000 after purchasing an additional 26,883 shares in the last quarter. Atticus Wealth Management LLC purchased a new position in shares of LandBridge in the 2nd quarter valued at about $130,000. Finally, Key Client Fiduciary Advisors LLC increased its holdings in shares of LandBridge by 83.6% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 17,377 shares of the company’s stock valued at $1,174,000 after purchasing an additional 7,912 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LB. Barclays dropped their target price on shares of LandBridge from $80.00 to $66.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. Piper Sandler dropped their target price on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Weiss Ratings restated a “hold (c-)” rating on shares of LandBridge in a report on Saturday, September 27th. Finally, Raymond James Financial dropped their target price on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.00.

LandBridge Stock Performance

Shares of NYSE LB opened at $48.86 on Friday. The company has a market cap of $3.74 billion, a PE ratio of 13.72 and a beta of 0.14. LandBridge Company LLC has a 12 month low of $46.50 and a 12 month high of $87.60. 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 company has a 50-day simple moving average of $53.44 and a 200-day simple moving average of $63.29.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. LandBridge’s payout ratio is 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.