EagleClaw Capital Managment LLC Invests $920,000 in LandBridge Co LLC (NYSE:LB)

EagleClaw Capital Managment LLC purchased a new position in shares of LandBridge Co LLC (NYSE:LB) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 23,525 shares of the company’s stock, valued at approximately $920,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LB. OneDigital Investment Advisors LLC bought a new position in LandBridge during the third quarter valued at about $383,000. Axxcess Wealth Management LLC purchased a new stake in shares of LandBridge during the third quarter worth $218,000. Schwartz Investment Counsel Inc. boosted its stake in LandBridge by 617.7% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after purchasing an additional 363,345 shares during the period. Zweig DiMenna Associates LLC bought a new position in shares of LandBridge in the third quarter valued at approximately $1,956,000. Finally, International Assets Investment Management LLC purchased a new position in shares of LandBridge during the 3rd quarter valued at $1,836,000.

LandBridge Stock Down 0.8 %

Shares of LB stock traded down $0.54 during trading hours on Wednesday, reaching $63.06. 25,963 shares of the company traded hands, compared to its average volume of 368,821. 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 stock’s 50-day moving average price is $51.06. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $78.41.

LandBridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, December 5th.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LB shares. The Goldman Sachs Group boosted their price objective on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Citigroup upped their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Raymond James assumed coverage on shares of LandBridge in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 price objective for the company. Pickering Energy Partners started coverage on shares of LandBridge in a report on Tuesday, July 23rd. They set an “outperform” rating for the company. Finally, Wells Fargo & Company lifted their target price on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.57.

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.