249,875 Shares in LandBridge Co LLC (NYSE:LB) Purchased by Burkehill Global Management LP

Burkehill Global Management LP purchased a new position in LandBridge Co LLC (NYSE:LB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 249,875 shares of the company’s stock, valued at approximately $15,262,000. LandBridge makes up about 1.5% of Burkehill Global Management LP’s investment portfolio, making the stock its 22nd largest holding.

A number of other large investors also recently added to or reduced their stakes in LB. Fairway Wealth LLC bought a new stake in shares of LandBridge during the fourth quarter valued at approximately $50,000. KBC Group NV purchased a new position in LandBridge during the fourth quarter valued at $72,000. Blue Trust Inc. bought a new stake in LandBridge in the 4th quarter valued at $110,000. BNP Paribas Financial Markets bought a new stake in LandBridge in the 3rd quarter valued at $168,000. Finally, Canton Hathaway LLC purchased a new stake in LandBridge in the 4th quarter worth $211,000.

Analysts Set New Price Targets

LB has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. Raymond James raised their price target on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Piper Sandler reduced their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an “overweight” rating in a research report on Friday, March 7th. Finally, Barclays boosted their price target on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.44.

LandBridge Price Performance

Shares of LandBridge stock opened at $69.37 on Thursday. The stock has a market cap of $5.07 billion and a price-to-earnings ratio of 19.49. 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 has a 50 day moving average price of $69.42 and a 200-day moving average price of $59.37. LandBridge Co LLC has a one year low of $18.75 and a one year high of $84.70.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, March 6th. LandBridge’s payout ratio is 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.