LandBridge Co LLC (NYSE:LB) Shares Sold by Pecaut & CO.

Pecaut & CO. lowered its position in shares of LandBridge Co LLC (NYSE:LB) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,000 shares of the company’s stock after selling 500 shares during the period. Pecaut & CO.’s holdings in LandBridge were worth $969,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC acquired a new position in LandBridge in the 4th quarter valued at about $50,000. Generali Investments Management Co LLC acquired a new position in LandBridge in the 4th quarter valued at about $52,000. KBC Group NV acquired a new position in LandBridge in the 4th quarter valued at about $72,000. Blue Trust Inc. acquired a new position in LandBridge in the 4th quarter valued at about $110,000. Finally, BNP Paribas Financial Markets acquired a new position in LandBridge in the 3rd quarter valued at about $168,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LB. Piper Sandler dropped their price target on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. Barclays boosted their target price on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company set a $82.00 target price on LandBridge and gave the stock an “overweight” rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.44.

LandBridge Stock Performance

LB opened at $79.59 on Friday. The stock has a market cap of $5.82 billion and a P/E ratio of 22.36. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $69.95 and its 200 day simple moving average is $60.82. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Thursday, March 6th. 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.