OFI Invest Asset Management Purchases New Shares in LandBridge Co LLC (NYSE:LB)

OFI Invest Asset Management bought a new stake in LandBridge Co LLC (NYSE:LB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 58,900 shares of the company’s stock, valued at approximately $3,674,000. OFI Invest Asset Management owned 0.08% of LandBridge at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC raised its position 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 last quarter. FMR LLC boosted its holdings in LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after purchasing an additional 686,070 shares during the last quarter. Schwartz Investment Counsel Inc. grew its stake in LandBridge by 1.0% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company’s stock worth $27,556,000 after purchasing an additional 4,400 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in LandBridge during the fourth quarter worth about $20,928,000. Finally, Boston Financial Mangement LLC acquired a new position in shares of LandBridge during the fourth quarter valued at $15,276,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday. Raymond James lifted their price target on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Barclays upped their target price on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.33.

LandBridge Stock Up 9.9 %

Shares of LB opened at $67.60 on Friday. The company has a market capitalization of $4.95 billion and a price-to-earnings ratio of 18.99. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $84.70. 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 $69.31 and its 200-day moving average price is $58.69.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. LandBridge’s dividend payout ratio is currently 11.24%.

About LandBridge

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.