Bridgewater Associates LP Acquires New Holdings in LandBridge Co LLC (NYSE:LB)

Bridgewater Associates LP purchased a new stake in LandBridge Co LLC (NYSE:LB) during the 4th quarter, Holdings Channel reports. The firm purchased 96,928 shares of the company’s stock, valued at approximately $6,262,000.

Other hedge funds have also modified their holdings of the company. Sandbox Financial Partners LLC acquired a new position in LandBridge in the 4th quarter valued at about $637,000. Annex Advisory Services LLC acquired a new position in shares of LandBridge in the fourth quarter valued at approximately $1,165,000. Mad River Investors lifted its stake in shares of LandBridge by 0.4% during the fourth quarter. Mad River Investors now owns 233,452 shares of the company’s stock valued at $15,081,000 after buying an additional 902 shares during the period. Segment Wealth Management LLC acquired a new stake in LandBridge during the fourth quarter worth approximately $323,000. Finally, KBC Group NV acquired a new position in LandBridge in the 4th quarter valued at $72,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. The Goldman Sachs Group increased their target price on LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the company an “overweight” rating in a research report on Friday, March 7th. Raymond James boosted their target price on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays boosted their price objective on shares of LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Finally, Piper Sandler reduced their target price on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, LandBridge currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

LandBridge Stock Up 2.1 %

Shares of NYSE LB opened at $69.10 on Friday. The firm has a market cap of $5.05 billion and a price-to-earnings ratio of 19.41. LandBridge Co LLC has a 1 year low of $18.75 and a 1 year high of $84.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $69.25 and its 200-day simple moving average is $65.28.

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 paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is currently 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.