Axxcess Wealth Management LLC Has $209,000 Holdings in LandBridge Co LLC (NYSE:LB)

Axxcess Wealth Management LLC cut its stake in shares of LandBridge Co LLC (NYSE:LB) by 42.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,229 shares of the company’s stock after selling 2,343 shares during the period. Axxcess Wealth Management LLC’s holdings in LandBridge were worth $209,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LB. Fairway Wealth LLC bought a new position in shares of LandBridge during the fourth quarter worth approximately $50,000. KBC Group NV bought a new position in shares of LandBridge during the fourth quarter worth approximately $72,000. Blue Trust Inc. bought a new position in shares of LandBridge during the fourth quarter worth approximately $110,000. Canton Hathaway LLC bought a new position in shares of LandBridge during the fourth quarter worth approximately $211,000. Finally, Stratos Wealth Partners LTD. bought a new position in shares of LandBridge during the fourth quarter worth approximately $234,000.

LandBridge Stock Performance

NYSE LB opened at $77.61 on Friday. The firm’s fifty day moving average price is $70.03 and its two-hundred day moving average price is $61.29. The stock has a market cap of $5.68 billion and a PE ratio of 21.80. LandBridge Co LLC has a fifty-two week low of $18.75 and a fifty-two week high of $84.70. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.52%. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Wells Fargo & Company set a $82.00 price objective on shares of LandBridge and gave the company an “overweight” rating in a research note on Friday, March 7th. Barclays lifted their price objective on shares of LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday. Piper Sandler decreased their price objective on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.56.

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.