LandBridge Co LLC (NYSE:LB) is Horizon Kinetics Asset Management LLC’s 3rd Largest Position

Horizon Kinetics Asset Management LLC increased its stake in LandBridge Co LLC (NYSE:LB) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,399,275 shares of the company’s stock after purchasing an additional 208,408 shares during the quarter. LandBridge accounts for 4.3% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Horizon Kinetics Asset Management LLC owned approximately 7.38% of LandBridge worth $348,793,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. FMR LLC increased 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 acquiring an additional 686,070 shares in the last quarter. Schwartz Investment Counsel Inc. increased its holdings in LandBridge by 1.0% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company’s stock valued at $27,556,000 after acquiring an additional 4,400 shares in the last quarter. Raymond James Financial Inc. purchased a new position in LandBridge during the 4th quarter valued at about $20,928,000. Burkehill Global Management LP purchased a new position in LandBridge during the 4th quarter valued at about $15,262,000. Finally, Boston Financial Mangement LLC purchased a new position in LandBridge during the 4th quarter valued at about $15,276,000.

Wall Street Analyst Weigh In

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

LandBridge Price Performance

LB opened at $72.45 on Monday. The company’s 50 day simple moving average is $69.62 and its 200 day simple moving average is $60.04. 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 Co LLC has a 1 year low of $18.75 and a 1 year high of $84.70. The stock has a market capitalization of $5.30 billion and a PE ratio of 20.35.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.10 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. LandBridge’s dividend payout ratio is presently 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.