Segment Wealth Management LLC Acquires New Holdings in LandBridge Co LLC (NYSE:LB)

Segment Wealth Management LLC bought a new position in shares of LandBridge Co LLC (NYSE:LB) in the fourth quarter, HoldingsChannel reports. The firm bought 5,000 shares of the company’s stock, valued at approximately $323,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC increased its stake in shares of LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after purchasing an additional 484,968 shares in the last quarter. FMR LLC increased its position in LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after buying an additional 686,070 shares in the last quarter. Schwartz Investment Counsel Inc. raised its holdings in shares of LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after acquiring an additional 363,345 shares during the last quarter. Mad River Investors lifted its position in shares of LandBridge by 0.4% in the fourth quarter. Mad River Investors now owns 233,452 shares of the company’s stock valued at $15,081,000 after acquiring an additional 902 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of LandBridge by 9.2% during the third quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock valued at $8,972,000 after acquiring an additional 19,350 shares during the last quarter.

LandBridge Price Performance

Shares of NYSE:LB opened at $82.52 on Wednesday. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $82.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The business has a 50-day moving average of $67.67 and a two-hundred day moving average of $50.03.

LandBridge (NYSE:LB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.24). The company had revenue of $28.49 million for the quarter, compared to analysts’ expectations of $35.50 million. On average, analysts anticipate that LandBridge Co LLC will post 0.99 earnings per share for the current fiscal year.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.48%.

Wall Street Analysts Forecast Growth

LB has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Barclays upped their price objective on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Piper Sandler lifted their target price on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. One 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. According to MarketBeat.com, LandBridge has an average rating of “Moderate Buy” and an average target price of $47.67.

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.