Ipswich Investment Management Co. Inc. Acquires Shares of 15,757 LandBridge Co LLC (NYSE:LB)

Ipswich Investment Management Co. Inc. bought a new position in shares of LandBridge Co LLC (NYSE:LB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,757 shares of the company’s stock, valued at approximately $1,018,000.

Other hedge funds have also modified their holdings of the company. KBC Group NV purchased a new position in LandBridge during the 4th quarter worth $72,000. Blue Trust Inc. acquired a new stake in shares of LandBridge during the fourth quarter worth about $110,000. Stratos Wealth Partners LTD. purchased a new position in shares of LandBridge during the fourth quarter worth about $234,000. Private Advisor Group LLC acquired a new position in LandBridge in the 4th quarter valued at about $259,000. Finally, BNP Paribas Financial Markets purchased a new stake in LandBridge during the 3rd quarter valued at approximately $168,000.

LandBridge Trading Down 9.3 %

Shares of LB opened at $65.70 on Friday. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $4.81 billion and a P/E ratio of 18.45. The firm’s 50-day moving average is $68.19 and its two-hundred day moving average is $56.51.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.61%. LandBridge’s payout ratio is currently 11.24%.

Analysts Set New Price Targets

Several research analysts have weighed in on LB shares. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Raymond James lifted their price objective on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Piper Sandler upped their price objective on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Finally, Barclays increased their price target on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

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.