OneDigital Investment Advisors LLC Takes $383,000 Position in LandBridge Co LLC (NYSE:LB)

OneDigital Investment Advisors LLC purchased a new position in LandBridge Co LLC (NYSE:LB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,800 shares of the company’s stock, valued at approximately $383,000.

Several other institutional investors also recently added to or reduced their stakes in LB. nVerses Capital LLC bought a new stake in shares of LandBridge during the 3rd quarter valued at $31,000. M&R Capital Management Inc. purchased a new position in LandBridge during the 3rd quarter valued at about $39,000. Axxcess Wealth Management LLC bought a new stake in shares of LandBridge during the third quarter valued at about $218,000. Requisite Capital Management LLC purchased a new stake in shares of LandBridge in the third quarter worth about $293,000. Finally, Point72 DIFC Ltd bought a new position in shares of LandBridge in the second quarter valued at approximately $497,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Citigroup boosted their price objective on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Barclays increased their target price on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group boosted their price target on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Janney Montgomery Scott began coverage on shares of LandBridge in a research report on Thursday, July 25th. They set a “buy” rating and a $36.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.57.

LandBridge Trading Up 1.4 %

Shares of LB stock opened at $67.00 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $78.41. The firm’s 50 day moving average is $51.69.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, December 5th.

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.