Raymond James Financial Inc. Takes Position in LandBridge Co LLC (NYSE:LB)

Raymond James Financial Inc. purchased a new stake in LandBridge Co LLC (NYSE:LB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 323,969 shares of the company’s stock, valued at approximately $20,928,000. Raymond James Financial Inc. owned approximately 0.44% of LandBridge at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV bought a new position in LandBridge in the fourth quarter valued at approximately $72,000. Blue Trust Inc. bought a new position in LandBridge in the fourth quarter valued at approximately $110,000. BNP Paribas Financial Markets bought a new position in LandBridge in the third quarter valued at approximately $168,000. Canton Hathaway LLC bought a new position in LandBridge in the fourth quarter valued at approximately $211,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of LandBridge during the fourth quarter worth $234,000.

Analyst Upgrades and Downgrades

LB has been the topic of a number of research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the stock an “overweight” rating in a research note on Friday, March 7th. Barclays boosted 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 decreased their target price on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.44.

LandBridge Price Performance

Shares of NYSE:LB opened at $72.45 on Monday. The firm has a market cap of $5.30 billion and a PE ratio of 20.35. The firm’s fifty day moving average is $69.62 and its 200-day moving average is $60.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $84.70.

LandBridge Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, March 6th. This represents a $0.40 annualized dividend and a yield of 0.55%. LandBridge’s payout ratio is 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.