LandBridge Company LLC $LB Shares Purchased by Royal Bank of Canada

Royal Bank of Canada grew its stake in shares of LandBridge Company LLC (NYSE:LB) by 128.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 44,985 shares of the company’s stock after acquiring an additional 25,284 shares during the period. Royal Bank of Canada owned about 0.06% of LandBridge worth $3,106,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashford Capital Management Inc. acquired a new position in shares of LandBridge in the 1st quarter worth $17,162,000. Sei Investments Co. lifted its holdings in shares of LandBridge by 100.0% during the first quarter. Sei Investments Co. now owns 134,720 shares of the company’s stock valued at $9,302,000 after purchasing an additional 67,360 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of LandBridge by 28.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,001 shares of the company’s stock valued at $414,000 after purchasing an additional 1,336 shares during the last quarter. Swiss National Bank boosted its position in shares of LandBridge by 47.1% in the 1st quarter. Swiss National Bank now owns 55,000 shares of the company’s stock valued at $3,798,000 after purchasing an additional 17,600 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of LandBridge in the 1st quarter valued at $278,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on LB shares. Weiss Ratings upgraded LandBridge from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Zacks Research upgraded shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. The Goldman Sachs Group set a $84.00 target price on shares of LandBridge in a research report on Thursday, May 28th. Finally, Piper Sandler lifted their target price on shares of LandBridge from $66.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, LandBridge presently has an average rating of “Hold” and an average price target of $79.20.

LandBridge Price Performance

LB opened at $78.35 on Friday. The stock has a fifty day moving average of $73.30 and a 200-day moving average of $70.02. The firm has a market capitalization of $6.04 billion, a P/E ratio of 69.34 and a beta of 0.06. LandBridge Company LLC has a 12-month low of $43.75 and a 12-month high of $88.00. The company has a quick ratio of 7.27, a current ratio of 7.27 and a debt-to-equity ratio of 0.64.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 27th. LandBridge’s payout ratio is presently 42.48%.

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.