Private Advisor Group LLC Purchases New Holdings in LandBridge Co LLC (NYSE:LB)

Private Advisor Group LLC acquired a new position in LandBridge Co LLC (NYSE:LB) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 4,014 shares of the company’s stock, valued at approximately $259,000.

Several other hedge funds have also added to or reduced their stakes in the stock. KBC Group NV purchased a new stake in shares of LandBridge during the fourth quarter valued at $72,000. Blue Trust Inc. purchased a new position in shares of LandBridge during the 4th quarter worth $110,000. BNP Paribas Financial Markets bought a new stake in shares of LandBridge during the 3rd quarter valued at $168,000. Axxcess Wealth Management LLC bought a new stake in shares of LandBridge during the 3rd quarter valued at $218,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of LandBridge in the 4th quarter worth $234,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LB. Raymond James boosted their price objective on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Barclays boosted their price target on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Piper Sandler lifted their price target on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.33.

LandBridge Price Performance

LandBridge stock opened at $65.16 on Thursday. The firm has a market capitalization of $4.77 billion and a PE ratio of 18.30. The firm has a 50-day moving average price of $69.22 and a 200-day moving average price of $58.40. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $84.70. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, March 6th. LandBridge’s dividend payout ratio is currently 11.24%.

About LandBridge

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.