LandBridge Co LLC (NYSE:LB) Shares Sold by Pecaut & CO.

Pecaut & CO. lessened its stake in shares of LandBridge Co LLC (NYSE:LB) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,000 shares of the company’s stock after selling 500 shares during the quarter. Pecaut & CO.’s holdings in LandBridge were worth $969,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC grew its holdings in LandBridge by 370.2% during the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after buying an additional 54,048 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in LandBridge during the 3rd quarter valued at $383,000. FMR LLC grew its holdings in LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after buying an additional 686,070 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after buying an additional 484,968 shares during the last quarter. Finally, Atlas Wealth Partners LLC acquired a new stake in LandBridge during the 4th quarter valued at $443,000.

LandBridge Trading Down 0.8 %

Shares of LB opened at $79.59 on Friday. 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 firm has a market capitalization of $5.82 billion and a P/E ratio of 22.36. The stock’s fifty day simple moving average is $69.95 and its 200 day simple moving average is $60.82. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70.

LandBridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analyst Weigh In

LB has been the topic of several analyst reports. Barclays raised their price objective on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Piper Sandler decreased their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Raymond James raised their price objective on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Royal Bank of Canada restated an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $71.00 price objective on shares of LandBridge in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, LandBridge currently has an average rating of “Moderate Buy” and an average price target of $57.44.

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.