Royal Bank of Canada Has $3.11 Million Stake in LandBridge Company LLC $LB

Royal Bank of Canada lifted its stake in LandBridge Company LLC (NYSE:LB) by 128.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,985 shares of the company’s stock after purchasing an additional 25,284 shares during the quarter. Royal Bank of Canada’s holdings in LandBridge were worth $3,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. First Manhattan CO. LLC. grew its position in LandBridge by 24.0% during the fourth quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after purchasing an additional 1,330,099 shares in the last quarter. Vanguard Group Inc. lifted its position in LandBridge by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after buying an additional 68,343 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in LandBridge in the 4th quarter worth approximately $33,817,000. Schwartz Investment Counsel Inc. boosted its stake in shares of LandBridge by 2.3% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock valued at $29,046,000 after buying an additional 13,128 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of LandBridge by 11.4% during the 3rd quarter. Raymond James Financial Inc. now owns 453,423 shares of the company’s stock valued at $24,190,000 after buying an additional 46,567 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. The Goldman Sachs Group set a $84.00 price target on shares of LandBridge in a report on Thursday, May 28th. Zacks Research upgraded LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Piper Sandler lifted their price objective on LandBridge from $66.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings upgraded LandBridge from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, LandBridge presently has an average rating of “Hold” and an average target price of $79.20.

LandBridge Trading Up 4.1%

NYSE:LB opened at $78.35 on Friday. The stock’s 50 day moving average price is $73.30 and its 200 day moving average price is $70.02. LandBridge Company LLC has a 52 week low of $43.75 and a 52 week high of $88.00. The company has a market capitalization of $6.04 billion, a P/E ratio of 69.34 and a beta of 0.06. The company has a debt-to-equity ratio of 0.64, a quick ratio of 7.27 and a current ratio of 7.27.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 27th. LandBridge’s payout ratio is currently 42.48%.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.