5,000 Shares in LandBridge Co LLC (NYSE:LB) Acquired by Segment Wealth Management LLC

Segment Wealth Management LLC purchased a new stake in LandBridge Co LLC (NYSE:LB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the company’s stock, valued at approximately $323,000.

Several other hedge funds also recently added to or reduced their stakes in LB. Horizon Kinetics Asset Management LLC increased its position in LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after buying an additional 484,968 shares during the period. FMR LLC increased its holdings in shares of LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after acquiring an additional 686,070 shares during the period. Schwartz Investment Counsel Inc. raised its position in LandBridge by 617.7% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after purchasing an additional 363,345 shares during the last quarter. Mad River Investors raised its position in LandBridge by 0.4% in the 4th quarter. Mad River Investors now owns 233,452 shares of the company’s stock valued at $15,081,000 after purchasing an additional 902 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in LandBridge by 9.2% during the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock worth $8,972,000 after purchasing an additional 19,350 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research report on Friday, January 3rd. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Finally, Piper Sandler increased their price target on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. One investment 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.com, LandBridge has a consensus rating of “Moderate Buy” and a consensus target price of $47.67.

LandBridge Trading Up 10.4 %

Shares of LB stock opened at $82.52 on Wednesday. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $82.76. 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 business’s fifty day moving average price is $67.67 and its 200 day moving average price is $50.03.

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). The firm had revenue of $28.49 million for the quarter, compared to analyst estimates of $35.50 million. On average, sell-side analysts anticipate that LandBridge Co LLC will post 0.99 earnings per share for the current fiscal year.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, December 5th.

LandBridge 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.