9,910 Shares in LandBridge Co LLC (NYSE:LB) Bought by Cannell & Spears LLC

Cannell & Spears LLC purchased a new stake in shares of LandBridge Co LLC (NYSE:LB) in the 4th quarter, HoldingsChannel reports. The firm purchased 9,910 shares of the company’s stock, valued at approximately $640,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LB. Fairway Wealth LLC purchased a new stake in LandBridge during the 4th quarter valued at about $50,000. Generali Investments Management Co LLC bought a new position in shares of LandBridge in the fourth quarter worth approximately $52,000. KBC Group NV bought a new position in shares of LandBridge in the fourth quarter worth approximately $72,000. Blue Trust Inc. purchased a new position in shares of LandBridge in the fourth quarter worth $110,000. Finally, BNP Paribas Financial Markets bought a new stake in LandBridge during the 3rd quarter valued at $168,000.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LB. The Goldman Sachs Group boosted their price objective 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. Piper Sandler lowered their price target on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. Barclays boosted their target price on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. Finally, Raymond James raised their price target on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.44.

LandBridge Price Performance

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

LandBridge Dividend Announcement

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

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.