One Charles Private Wealth Services LLC trimmed its position in shares of LandBridge Company LLC (NYSE:LB – Free Report) by 4.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,152 shares of the company’s stock after selling 11,613 shares during the period. LandBridge makes up approximately 4.1% of One Charles Private Wealth Services LLC’s investment portfolio, making the stock its 6th largest position. One Charles Private Wealth Services LLC’s holdings in LandBridge were worth $17,762,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of LB. California State Teachers Retirement System raised its position in shares of LandBridge by 10,421.5% in the 2nd quarter. California State Teachers Retirement System now owns 2,502,003 shares of the company’s stock valued at $198,259,000 after buying an additional 2,478,223 shares in the last quarter. Markowski Investments acquired a new position in LandBridge during the second quarter valued at approximately $54,000. Lionsbridge Wealth Management LLC acquired a new position in LandBridge during the second quarter valued at approximately $240,000. Annex Advisory Services LLC lifted its stake in LandBridge by 11.9% during the second quarter. Annex Advisory Services LLC now owns 33,466 shares of the company’s stock worth $2,652,000 after purchasing an additional 3,556 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new position in shares of LandBridge in the 2nd quarter valued at $254,000.
Analysts Set New Price Targets
Several research firms recently weighed in on LB. Citigroup raised their price objective on LandBridge from $66.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings cut shares of LandBridge from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 27th. The Goldman Sachs Group set a $84.00 price target on shares of LandBridge in a research note on Thursday, May 28th. Finally, Piper Sandler lifted their price target on shares of LandBridge from $80.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, September 1st. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.67.
LandBridge Trading Up 2.0%
Shares of LB stock opened at $88.27 on Wednesday. LandBridge Company LLC has a fifty-two week low of $43.75 and a fifty-two week high of $91.69. The company has a debt-to-equity ratio of 0.64, a quick ratio of 7.27 and a current ratio of 7.27. The stock has a 50 day simple moving average of $80.03 and a two-hundred day simple moving average of $73.37. The company has a market cap of $6.80 billion, a P/E ratio of 78.11 and a beta of 0.09.
LandBridge Announces Dividend
The business also recently declared 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. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 27th. LandBridge’s payout ratio is 42.48%.
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.
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