LandBridge Company LLC $LB Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC trimmed its position in LandBridge Company LLC (NYSE:LB) by 61.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,303 shares of the company’s stock after selling 6,823 shares during the quarter. Headlands Technologies LLC’s holdings in LandBridge were worth $341,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in shares of LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of LandBridge in the fourth quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its stake in shares of LandBridge by 564.1% in the first quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock worth $36,000 after acquiring an additional 440 shares during the last quarter. Quattro Advisors LLC purchased a new stake in shares of LandBridge during the fourth quarter worth approximately $36,000. Finally, Galaxy Group Investments LLC purchased a new stake in shares of LandBridge during the fourth quarter worth approximately $36,000.

LandBridge Stock Performance

Shares of LandBridge stock opened at $86.34 on Friday. The business’s 50 day moving average price is $79.11 and its 200 day moving average price is $72.88. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 76.41 and a beta of 0.09. The company has a debt-to-equity ratio of 0.64, a quick ratio of 7.27 and a current ratio of 7.27. LandBridge Company LLC has a one year low of $43.75 and a one year high of $91.69.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. LandBridge’s dividend payout ratio (DPR) is 42.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $84.00 target price on shares of LandBridge in a report on Thursday, May 28th. Citigroup raised their price target on shares of LandBridge from $66.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 26th. Piper Sandler boosted their price target on shares of LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings cut shares of LandBridge from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, August 27th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, LandBridge presently has an average rating of “Hold” and an average target price of $81.67.

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