HighTower Advisors LLC Decreases Stake in LandBridge Co LLC (NYSE:LB)

HighTower Advisors LLC lowered its stake in LandBridge Co LLC (NYSE:LB) by 6.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,034 shares of the company’s stock after selling 4,615 shares during the period. HighTower Advisors LLC’s holdings in LandBridge were worth $4,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in LandBridge during the 4th quarter valued at approximately $50,000. KBC Group NV acquired a new stake in LandBridge during the 4th quarter valued at approximately $72,000. Blue Trust Inc. purchased a new stake in LandBridge in the 4th quarter worth approximately $110,000. BNP Paribas Financial Markets acquired a new stake in shares of LandBridge during the 3rd quarter worth approximately $168,000. Finally, Canton Hathaway LLC acquired a new position in shares of LandBridge in the 4th quarter valued at $211,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the company an “overweight” rating in a research report on Friday, March 7th. Raymond James raised their target price on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Piper Sandler dropped their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. The Goldman Sachs Group restated a “buy” rating and set a $71.00 target price on shares of LandBridge in a research report on Friday, January 3rd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.44.

LandBridge Stock Down 0.8 %

LB stock opened at $79.59 on Friday. The stock has a market capitalization of $5.82 billion and a P/E ratio of 22.36. The firm has a 50-day simple moving average of $69.95 and a 200-day simple moving average of $60.82. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $84.70.

LandBridge Dividend Announcement

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

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.