Ashford Capital Management Inc. Makes New Investment in LandBridge Company LLC $LB

Ashford Capital Management Inc. purchased a new stake in LandBridge Company LLC (NYSE:LB) in the 1st quarter, Holdings Channel.com reports. The fund purchased 248,540 shares of the company’s stock, valued at approximately $17,162,000. LandBridge comprises about 2.1% of Ashford Capital Management Inc.’s portfolio, making the stock its 17th largest holding.

A number of other large investors also recently made changes to their positions in the business. NewEdge Advisors LLC boosted its holdings in shares of LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of LandBridge in the fourth quarter valued at $33,000. Quattro Advisors LLC acquired a new position in LandBridge in the fourth quarter valued at $36,000. Galaxy Group Investments LLC acquired a new position in LandBridge in the fourth quarter valued at $36,000. Finally, CIBC Private Wealth Group LLC purchased a new position in LandBridge during the fourth quarter worth about $40,000.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group set a $84.00 price target on LandBridge in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research note on Monday, July 6th. Piper Sandler increased their price objective on shares of LandBridge from $66.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Finally, Zacks Research upgraded shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, LandBridge presently has a consensus rating of “Hold” and a consensus target price of $78.50.

LandBridge Stock Down 1.3%

Shares of NYSE LB opened at $75.34 on Tuesday. LandBridge Company LLC has a 52-week low of $43.75 and a 52-week high of $85.60. The firm has a fifty day moving average of $72.45 and a 200-day moving average of $67.99. The stock has a market capitalization of $5.81 billion, a PE ratio of 77.67 and a beta of 0.02. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66.

LandBridge (NYSE:LB) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). The firm had revenue of $51.01 million for the quarter, compared to analyst estimates of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. On average, analysts anticipate that LandBridge Company LLC will post 1.48 EPS for the current year.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, June 4th. LandBridge’s payout ratio is 49.48%.

About LandBridge

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.