Cannell & Spears LLC Takes Position in LandBridge Co LLC (NYSE:LB)

Cannell & Spears LLC purchased a new position in LandBridge Co LLC (NYSE:LB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,910 shares of the company’s stock, valued at approximately $640,000.

Several other institutional investors have also bought and sold shares of 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 buying an additional 686,070 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in LandBridge in the 3rd quarter worth about $168,000. Verition Fund Management LLC bought a new stake in LandBridge in the 3rd quarter valued at about $536,000. Flow Traders U.S. LLC purchased a new stake in LandBridge during the third quarter valued at about $600,000. Finally, Centiva Capital LP boosted its position in LandBridge by 4.7% during the third quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock worth $373,000 after purchasing an additional 427 shares during the period.

LandBridge Stock Performance

Shares of LB opened at $72.07 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $70.35 and a 200-day moving average price of $63.22. The company has a market cap of $5.27 billion and a PE ratio of 20.24. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $84.70.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.56%. LandBridge’s dividend payout ratio is presently 11.24%.

Wall Street Analysts Forecast Growth

LB has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th. Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the company an “overweight” rating in a report on Friday, March 7th. Barclays raised their price target on LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, March 21st. 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. Finally, Piper Sandler cut their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.44.

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.