Ipswich Investment Management Co. Inc. Purchases Shares of 15,757 LandBridge Co LLC (NYSE:LB)

Ipswich Investment Management Co. Inc. purchased a new stake in LandBridge Co LLC (NYSE:LB) during the 4th quarter, Holdings Channel reports. The firm purchased 15,757 shares of the company’s stock, valued at approximately $1,018,000.

A number of other hedge funds have also modified their holdings of the business. KBC Group NV purchased a new stake in LandBridge in the 4th quarter valued at approximately $72,000. Blue Trust Inc. purchased a new stake in shares of LandBridge in the fourth quarter valued at $110,000. BNP Paribas Financial Markets acquired a new stake in shares of LandBridge during the third quarter valued at $168,000. Axxcess Wealth Management LLC purchased a new stake in LandBridge during the 3rd quarter worth about $218,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in LandBridge during the 4th quarter worth about $234,000.

LandBridge Stock Performance

Shares of NYSE:LB opened at $65.70 on Friday. The business has a 50-day moving average of $68.19 and a two-hundred day moving average of $56.51. The firm has a market capitalization of $4.81 billion and a PE ratio of 18.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $84.70.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.61%. LandBridge’s payout ratio is 11.24%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays raised their price target on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. 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. Piper Sandler boosted their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group restated a “buy” rating and set a $71.00 price objective on shares of LandBridge in a report on Friday, January 3rd. Finally, Raymond James upped their target price on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

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.