Sprott Inc. Purchases 16,909 Shares of LandBridge Co LLC (NYSE:LB)

Sprott Inc. lifted its position in LandBridge Co LLC (NYSE:LB) by 35.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 65,232 shares of the company’s stock after buying an additional 16,909 shares during the period. Sprott Inc.’s holdings in LandBridge were worth $4,214,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. HighTower Advisors LLC increased its holdings in shares of LandBridge by 370.2% in the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after acquiring an additional 54,048 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of LandBridge in the 3rd quarter valued at approximately $383,000. FMR LLC increased its stake in LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in LandBridge during the 3rd quarter worth approximately $1,836,000. Finally, Horizon Kinetics Asset Management LLC raised its holdings in 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 buying an additional 484,968 shares during the period.

LandBridge Trading Down 6.7 %

LB opened at $60.98 on Wednesday. The business’s 50-day simple moving average is $68.38 and its 200 day simple moving average is $57.29. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week 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.

LandBridge Dividend Announcement

The business also recently disclosed 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 0.66%. The ex-dividend date is Thursday, March 6th.

Analysts Set New Price Targets

LB has been the subject of several research reports. Barclays increased their price objective on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Raymond James boosted their price target on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Piper Sandler upped their price objective on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 target price on shares of LandBridge in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.