Verition Fund Management LLC Purchases New Stake in LandBridge Co LLC (NYSE:LB)

Verition Fund Management LLC bought a new stake in shares of LandBridge Co LLC (NYSE:LB) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 13,690 shares of the company’s stock, valued at approximately $536,000.

A number of other large investors also recently modified their holdings of LB. nVerses Capital LLC bought a new stake in shares of LandBridge during the third quarter valued at about $31,000. M&R Capital Management Inc. bought a new stake in shares of LandBridge during the 3rd quarter worth $39,000. BNP Paribas Financial Markets acquired a new stake in LandBridge during the 3rd quarter worth about $168,000. Axxcess Wealth Management LLC acquired a new stake in shares of LandBridge during the third quarter valued at approximately $218,000. Finally, Requisite Capital Management LLC purchased a new stake in shares of LandBridge in the third quarter valued at $293,000.

LandBridge Trading Down 0.6 %

Shares of LandBridge stock opened at $62.65 on Thursday. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $80.82. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock’s 50-day moving average price is $61.08.

LandBridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.64%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Piper Sandler boosted their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research report on Tuesday. Citigroup upped their target price on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Barclays raised their price target on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, LandBridge presently has an average rating of “Moderate Buy” and an average target price of $40.00.

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.