LandBridge Company LLC $LB Stake Boosted by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lifted its holdings in LandBridge Company LLC (NYSE:LB) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,642,766 shares of the company’s stock after buying an additional 10,653 shares during the period. LandBridge makes up 3.7% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 4th biggest position. Horizon Kinetics Asset Management LLC owned 7.25% of LandBridge worth $276,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in shares of LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after buying an additional 209 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in LandBridge during the fourth quarter worth about $51,000. Aquatic Capital Management LLC acquired a new stake in LandBridge during the third quarter worth about $63,000. Jones Financial Companies Lllp increased its position in LandBridge by 805.9% during the third quarter. Jones Financial Companies Lllp now owns 1,232 shares of the company’s stock worth $67,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Comerica Bank increased its position in LandBridge by 13.6% during the third quarter. Comerica Bank now owns 1,369 shares of the company’s stock worth $73,000 after purchasing an additional 164 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on LB. The Goldman Sachs Group set a $84.00 price objective on shares of LandBridge in a research report on Thursday, May 28th. Zacks Research cut shares of LandBridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Piper Sandler restated a “neutral” rating and set a $66.00 price objective (up from $65.00) on shares of LandBridge in a research report on Friday, May 8th. Wells Fargo & Company raised their price objective on shares of LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, LandBridge presently has a consensus rating of “Hold” and a consensus target price of $76.17.

LandBridge Price Performance

Shares of LB opened at $67.79 on Wednesday. LandBridge Company LLC has a 1-year low of $43.75 and a 1-year high of $85.60. The stock has a market cap of $5.23 billion, a PE ratio of 69.89 and a beta of 0.08. The firm has a 50-day simple moving average of $69.70 and a two-hundred day simple moving average of $63.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.15 and a quick ratio of 3.15.

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The company had revenue of $51.01 million for the quarter, compared to analyst estimates of $58.72 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. LandBridge’s revenue was up 16.0% on a year-over-year basis. As a group, analysts forecast that LandBridge Company LLC will post 1.48 EPS for the current year.

LandBridge announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. LandBridge’s dividend payout ratio (DPR) is currently 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.