Annex Advisory Services LLC Takes $1.17 Million Position in LandBridge Co LLC (NYSE:LB)

Annex Advisory Services LLC bought a new position in shares of LandBridge Co LLC (NYSE:LB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,041 shares of the company’s stock, valued at approximately $1,165,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC grew its holdings in LandBridge by 370.2% during the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after acquiring an additional 54,048 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in LandBridge during the third quarter worth about $383,000. FMR LLC grew its holdings in LandBridge by 40.5% during 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 during the period. International Assets Investment Management LLC acquired a new stake in LandBridge during the third quarter worth about $1,836,000. Finally, Horizon Kinetics Asset Management LLC grew its holdings 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 acquiring an additional 484,968 shares during the period.

Analysts Set New Price Targets

LB has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. Piper Sandler increased their price target on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Barclays increased their price target on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday. One equities 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.67.

LandBridge Trading Down 0.6 %

NYSE LB opened at $74.83 on Tuesday. The stock’s 50 day simple moving average is $67.67 and its 200-day simple moving average is $50.03. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $80.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

LandBridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.53%.

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.