Horizon Kinetics Asset Management LLC Acquires 208,408 Shares of LandBridge Co LLC (NYSE:LB)

Horizon Kinetics Asset Management LLC raised its holdings in shares of LandBridge Co LLC (NYSE:LB) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,399,275 shares of the company’s stock after buying an additional 208,408 shares during the period. LandBridge comprises 4.3% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Horizon Kinetics Asset Management LLC owned 0.07% of LandBridge worth $348,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. one8zero8 LLC purchased a new stake in shares of LandBridge during the fourth quarter valued at approximately $3,188,000. Commonwealth Equity Services LLC purchased a new stake in shares of LandBridge during the fourth quarter valued at approximately $1,052,000. Swiss National Bank purchased a new stake in shares of LandBridge during the fourth quarter valued at approximately $1,621,000. Burkehill Global Management LP purchased a new stake in shares of LandBridge during the fourth quarter valued at approximately $15,262,000. Finally, Moors & Cabot Inc. raised its stake in shares of LandBridge by 80.7% during the fourth quarter. Moors & Cabot Inc. now owns 198,725 shares of the company’s stock valued at $12,838,000 after purchasing an additional 88,755 shares during the period.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective 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. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. Raymond James lifted their price target on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Piper Sandler dropped their price target on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the stock an “overweight” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.44.

LandBridge Stock Up 7.4 %

Shares of NYSE:LB opened at $72.45 on Monday. The stock has a market capitalization of $5.30 billion and a price-to-earnings ratio of 20.35. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70. The company’s fifty day moving average is $69.62 and its two-hundred day 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 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 is Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. LandBridge’s dividend payout ratio is currently 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.