L & S Advisors Inc Trims Stock Position in LandBridge Company LLC $LB

L & S Advisors Inc decreased its holdings in LandBridge Company LLC (NYSE:LB) by 9.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,485 shares of the company’s stock after selling 4,223 shares during the quarter. L & S Advisors Inc’s holdings in LandBridge were worth $2,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Manhattan CO. LLC. raised its position in LandBridge by 3.1% in the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company’s stock worth $201,303,000 after acquiring an additional 84,701 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of LandBridge by 5,290.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company’s stock worth $85,845,000 after purchasing an additional 1,171,142 shares in the last quarter. Vanguard Group Inc. raised its holdings in LandBridge by 17.1% in the 1st quarter. Vanguard Group Inc. now owns 697,748 shares of the company’s stock worth $50,196,000 after purchasing an additional 102,085 shares during the period. Schwartz Investment Counsel Inc. raised its holdings in LandBridge by 1.6% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 519,668 shares of the company’s stock worth $35,119,000 after purchasing an additional 8,400 shares during the period. Finally, Raymond James Financial Inc. lifted its position in LandBridge by 1.6% during the first quarter. Raymond James Financial Inc. now owns 329,123 shares of the company’s stock valued at $23,677,000 after purchasing an additional 5,155 shares in the last quarter.

LandBridge Stock Down 10.8%

Shares of NYSE LB opened at $72.71 on Friday. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54. LandBridge Company LLC has a 12-month low of $48.55 and a 12-month high of $87.60. The firm’s 50-day moving average price is $57.35 and its 200-day moving average price is $62.28. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 142.57 and a beta of 0.15.

LandBridge (NYSE:LB) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.44). The company had revenue of $50.83 million for the quarter, compared to the consensus estimate of $49.13 million. LandBridge had a return on equity of 4.74% and a net margin of 13.72%. On average, equities research analysts anticipate that LandBridge Company LLC will post 0.99 EPS for the current fiscal year.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, December 4th. LandBridge’s dividend payout ratio (DPR) is 78.43%.

Analysts Set New Price Targets

LB has been the subject of a number of analyst reports. Raymond James Financial reduced their price target on LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Barclays reduced their price objective on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Wells Fargo & Company lowered their target price on shares of LandBridge from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Zacks Research upgraded LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.17.

LandBridge Company 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.