Moore Capital Management LP Invests $8.07 Million in LandBridge Co LLC (NYSE:LB)

Moore Capital Management LP purchased a new position in shares of LandBridge Co LLC (NYSE:LB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 124,937 shares of the company’s stock, valued at approximately $8,071,000.

A number of other institutional investors also recently modified their holdings of LB. Hood River Capital Management LLC acquired a new position in LandBridge in the fourth quarter valued at about $41,431,000. Vanguard Group Inc. bought a new position in shares of LandBridge during the fourth quarter worth $38,480,000. First Manhattan CO. LLC. raised its stake in LandBridge by 23.5% during the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock worth $175,292,000 after buying an additional 516,380 shares during the period. Raymond James Financial Inc. bought a new position in LandBridge during the fourth quarter worth about $20,928,000. Finally, Burkehill Global Management LP acquired a new position in LandBridge in the fourth quarter valued at about $15,262,000.

LandBridge Stock Up 1.3%

Shares of LB opened at $70.05 on Monday. The stock has a fifty day moving average of $70.67 and a 200-day moving average of $68.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $84.70. The stock has a market capitalization of $5.12 billion and a price-to-earnings ratio of 19.68.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 annualized dividend and a yield of 0.57%. LandBridge’s payout ratio is 11.24%.

Analysts Set New Price Targets

LB has been the subject of several research analyst reports. Barclays boosted their price objective on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Piper Sandler cut their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company set a $82.00 price objective on LandBridge and gave the stock an “overweight” rating in a research note on Friday, March 7th. Raymond James lifted their price objective on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group upped their price objective on LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.44.

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.