LandBridge Company LLC $LB Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS increased its stake in LandBridge Company LLC (NYSE:LB) by 28.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,600 shares of the company’s stock after acquiring an additional 800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in LandBridge were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LB. Janney Montgomery Scott LLC acquired a new position in shares of LandBridge in the 1st quarter worth $1,594,000. Schwartz Investment Counsel Inc. grew its holdings in shares of LandBridge by 19.9% during the first quarter. Schwartz Investment Counsel Inc. now owns 511,268 shares of the company’s stock valued at $36,781,000 after buying an additional 84,700 shares in the last quarter. Essex Financial Services Inc. purchased a new position in shares of LandBridge during the first quarter valued at $464,000. OneDigital Investment Advisors LLC grew its holdings in shares of LandBridge by 158.8% during the first quarter. OneDigital Investment Advisors LLC now owns 30,487 shares of the company’s stock valued at $2,193,000 after buying an additional 18,708 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of LandBridge during the first quarter valued at $1,788,000.

Analyst Upgrades and Downgrades

LB has been the topic of a number of research analyst reports. Barclays lowered their price target on LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Piper Sandler lowered their price target on LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Wells Fargo & Company lowered their price target on LandBridge from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday. Raymond James Financial lowered their target price on LandBridge from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Finally, Zacks Research downgraded LandBridge from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LandBridge presently has a consensus rating of “Hold” and an average target price of $65.17.

LandBridge Price Performance

Shares of NYSE:LB opened at $55.88 on Tuesday. LandBridge Company LLC has a fifty-two week low of $48.55 and a fifty-two week high of $87.60. The business has a 50-day moving average of $53.23 and a two-hundred day moving average of $62.54. The stock has a market capitalization of $4.28 billion, a P/E ratio of 15.70 and a beta of 0.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26.

LandBridge Announces Dividend

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

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.