LandBridge Co LLC (NYSE:LB) Position Boosted by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. increased its holdings in LandBridge Co LLC (NYSE:LB) by 7.6% during the fourth quarter, Holdings Channel reports. The firm owned 88,190 shares of the company’s stock after purchasing an additional 6,240 shares during the period. Tocqueville Asset Management L.P.’s holdings in LandBridge were worth $5,697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. HighTower Advisors LLC boosted its position in shares of LandBridge by 370.2% in the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after purchasing an additional 54,048 shares during the period. OneDigital Investment Advisors LLC acquired a new position in shares of LandBridge in the third quarter worth about $383,000. FMR LLC increased its position in shares of 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 acquiring an additional 686,070 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after acquiring an additional 484,968 shares during the period. Finally, Atlas Wealth Partners LLC purchased a new stake in shares of LandBridge in the 4th quarter valued at approximately $443,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on LB. Barclays lifted their price objective on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Piper Sandler dropped their price target on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. The Goldman Sachs Group restated a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research report on Friday, January 3rd. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Raymond James raised their price target on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, LandBridge has a consensus rating of “Moderate Buy” and a consensus price target of $57.44.

LandBridge Trading Down 1.8 %

NYSE:LB opened at $72.35 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $5.29 billion and a P/E ratio of 20.32. The stock’s 50 day moving average price is $69.62 and its 200 day moving average price is $60.55. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $84.70.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. 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.