Fairway Wealth LLC Buys New Stake in LandBridge Co LLC (NYSE:LB)

Fairway Wealth LLC acquired a new stake in LandBridge Co LLC (NYSE:LB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 777 shares of the company’s stock, valued at approximately $50,000.

Other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in LandBridge by 370.2% during the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after acquiring an additional 54,048 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in LandBridge during the 3rd quarter worth about $383,000. FMR LLC boosted its stake in shares of LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after purchasing an additional 686,070 shares during the period. Horizon Kinetics Asset Management LLC boosted its position in LandBridge by 10.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after buying an additional 484,968 shares during the period. Finally, Atlas Wealth Partners LLC acquired a new position in LandBridge during the 4th quarter worth $443,000.

LandBridge Trading Down 0.5 %

NYSE:LB opened at $67.40 on Tuesday. The stock has a fifty day simple moving average of $69.31 and a 200 day simple moving average of $58.99. The firm has a market capitalization of $4.93 billion and a price-to-earnings ratio of 18.93. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price objective on shares of LandBridge in a report on Friday, January 3rd. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Barclays lifted their price objective on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Raymond James boosted their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the stock an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.44.

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.