Caitong International Asset Management Co. Ltd Sells 961 Shares of LandBridge Company LLC $LB

Caitong International Asset Management Co. Ltd trimmed its holdings in LandBridge Company LLC (NYSE:LB) by 61.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 593 shares of the company’s stock after selling 961 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in LandBridge were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Schwartz Investment Counsel Inc. increased its stake in shares of LandBridge by 1.6% in the second quarter. Schwartz Investment Counsel Inc. now owns 519,668 shares of the company’s stock worth $35,119,000 after buying an additional 8,400 shares during the period. Avidian Wealth Enterprises LLC purchased a new position in shares of LandBridge in the second quarter worth $270,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of LandBridge in the second quarter worth $338,000. Apollon Wealth Management LLC purchased a new position in shares of LandBridge in the second quarter worth $673,000. Finally, Gunderson Capital Management Inc. purchased a new position in shares of LandBridge in the second quarter worth $2,737,000.

Analyst Ratings Changes

LB has been the topic of several analyst reports. Raymond James Financial decreased their target price on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Piper Sandler decreased their target price on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Zacks Research downgraded shares of LandBridge from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Barclays reduced their price objective on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, LandBridge presently has an average rating of “Hold” and a consensus target price of $65.17.

LandBridge Stock Down 0.4%

Shares of LandBridge stock opened at $59.57 on Friday. The company’s fifty day simple moving average is $53.68 and its two-hundred day simple moving average is $62.45. The company has a market cap of $4.56 billion, a P/E ratio of 116.80 and a beta of 0.14. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54. LandBridge Company LLC has a 12-month low of $48.55 and a 12-month high of $87.60.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. LandBridge’s dividend payout ratio is currently 78.43%.

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.