HighTower Advisors LLC Sells 12,971 Shares of LandBridge Company LLC $LB

HighTower Advisors LLC lessened its stake in shares of LandBridge Company LLC (NYSE:LB) by 13.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 84,612 shares of the company’s stock after selling 12,971 shares during the period. HighTower Advisors LLC owned approximately 0.11% of LandBridge worth $4,514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Atlas Wealth Partners LLC raised its stake in shares of LandBridge by 90.3% in the third quarter. Atlas Wealth Partners LLC now owns 35,038 shares of the company’s stock valued at $1,869,000 after acquiring an additional 16,623 shares during the period. Moors & Cabot Inc. grew its holdings in LandBridge by 8.2% during the 2nd quarter. Moors & Cabot Inc. now owns 176,264 shares of the company’s stock valued at $11,912,000 after purchasing an additional 13,338 shares during the last quarter. Cortland Associates Inc. MO raised its position in LandBridge by 172.0% in the 3rd quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock worth $22,004,000 after purchasing an additional 260,812 shares during the period. Quadrature Capital Ltd bought a new stake in LandBridge in the second quarter worth about $927,000. Finally, Sigma Planning Corp boosted its position in shares of LandBridge by 79.5% during the second quarter. Sigma Planning Corp now owns 9,034 shares of the company’s stock valued at $611,000 after buying an additional 4,001 shares during the period.

LandBridge Trading Down 0.6%

Shares of NYSE LB opened at $66.04 on Wednesday. LandBridge Company LLC has a twelve month low of $43.75 and a twelve month high of $87.60. The firm has a market cap of $5.14 billion, a PE ratio of 94.34 and a beta of 0.43. The business has a fifty day simple moving average of $56.28 and a two-hundred day simple moving average of $56.53. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.52.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LB. Janney Montgomery Scott downgraded LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday, November 13th. UBS Group reaffirmed a “neutral” rating and issued a $65.00 price objective on shares of LandBridge in a research report on Monday, November 24th. Raymond James Financial downgraded LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Piper Sandler boosted their target price on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, November 24th. Finally, Wells Fargo & Company reduced their price target on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.33.

Insider Transactions at LandBridge

In other LandBridge news, insider Harrison Fenner Bolling acquired 850 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was bought at an average cost of $46.84 per share, with a total value of $39,814.00. Following the completion of the purchase, the insider directly owned 66,874 shares in the company, valued at $3,132,378.16. The trade was a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Thomas Long bought 2,143 shares of the business’s stock in a transaction on Monday, January 5th. The shares were acquired at an average cost of $46.59 per share, for a total transaction of $99,842.37. Following the transaction, the insider directly owned 223,546 shares in the company, valued at approximately $10,415,008.14. This trade represents a 0.97% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 3,542 shares of company stock valued at $164,630. 70.42% of the stock is owned by insiders.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.