LandBridge Company LLC $LB Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lifted its holdings in LandBridge Company LLC (NYSE:LB) by 0.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,642,766 shares of the company’s stock after purchasing an additional 10,653 shares during the period. LandBridge makes up 3.7% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 4th biggest holding. Horizon Kinetics Asset Management LLC owned approximately 0.07% of LandBridge worth $276,439,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LB. Royal Bank of Canada grew its holdings in shares of LandBridge by 20.3% in the first quarter. Royal Bank of Canada now owns 27,008 shares of the company’s stock valued at $1,944,000 after purchasing an additional 4,554 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of LandBridge in the first quarter valued at approximately $494,000. Geode Capital Management LLC grew its holdings in shares of LandBridge by 0.8% in the second quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after purchasing an additional 230 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of LandBridge in the second quarter valued at approximately $218,000. Finally, Legal & General Group Plc grew its holdings in shares of LandBridge by 27.3% in the second quarter. Legal & General Group Plc now owns 16,114 shares of the company’s stock valued at $1,089,000 after purchasing an additional 3,459 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on LB. Zacks Research cut shares of LandBridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. The Goldman Sachs Group set a $84.00 price objective on shares of LandBridge in a report on Thursday, May 28th. Wells Fargo & Company lifted their price objective on shares of LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research note on Wednesday, April 8th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $66.00 price target (up from $65.00) on shares of LandBridge in a research note on Friday, May 8th. Two 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.17.

LandBridge Stock Down 2.7%

Shares of LandBridge stock opened at $67.79 on Wednesday. LandBridge Company LLC has a 52-week low of $43.75 and a 52-week high of $85.60. The company has a 50 day moving average of $69.70 and a 200 day moving average of $63.74. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.23 billion, a P/E ratio of 69.89 and a beta of 0.08.

LandBridge (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The firm had revenue of $51.01 million during the quarter, compared to analysts’ expectations of $58.72 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, research analysts forecast that LandBridge Company LLC will post 1.48 EPS for the current fiscal year.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. LandBridge’s payout ratio is currently 49.48%.

LandBridge announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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