Steward Partners Investment Advisory LLC Boosts Holdings in LandBridge Co LLC (NYSE:LB)

Steward Partners Investment Advisory LLC raised its position in shares of LandBridge Co LLC (NYSE:LB) by 174.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,651 shares of the company’s stock after purchasing an additional 2,955 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in LandBridge were worth $300,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in LB. FMR LLC increased its position in LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after acquiring an additional 484,968 shares in the last quarter. Boston Financial Mangement LLC bought a new position in LandBridge during the 4th quarter worth about $15,276,000. Cortland Associates Inc. MO bought a new position in LandBridge during the 4th quarter worth about $9,727,000. Finally, Moors & Cabot Inc. bought a new stake in shares of LandBridge in the 3rd quarter valued at about $4,302,000.

LandBridge Stock Performance

Shares of LandBridge stock opened at $67.35 on Friday. LandBridge Co LLC has a one year low of $18.75 and a one year high of $84.70. The company has a market cap of $4.93 billion and a PE ratio of 18.92. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The business has a 50-day simple moving average of $69.52 and a 200-day simple moving average of $59.44.

LandBridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company set a $82.00 price objective on shares of LandBridge and gave the company an “overweight” rating in a research report on Friday, March 7th. Raymond James lifted their target price on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays lifted their target price on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Piper Sandler lowered their price target on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.44.

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.