Moors & Cabot Inc. Purchases 88,755 Shares of LandBridge Co LLC (NYSE:LB)

Moors & Cabot Inc. raised its holdings in shares of LandBridge Co LLC (NYSE:LB) by 80.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,725 shares of the company’s stock after purchasing an additional 88,755 shares during the period. Moors & Cabot Inc.’s holdings in LandBridge were worth $12,838,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the company an “overweight” rating in a research report on Friday. Raymond James lifted their target price 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. Barclays lifted their target price 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 reiterated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Piper Sandler reduced their target price 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. One equities research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.44.

LandBridge Trading Up 0.4 %

Shares of LB opened at $67.98 on Wednesday. The stock has a market capitalization of $4.97 billion and a P/E ratio of 19.09. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $69.35 and a two-hundred day simple moving average of $59.18. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 yield of 0.59%. LandBridge’s 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.