HighTower Advisors LLC Cuts Position in LandBridge Company LLC $LB

HighTower Advisors LLC reduced its stake in shares of LandBridge Company LLC (NYSE:LB) by 13.3% in the third quarter, HoldingsChannel reports. The firm owned 84,612 shares of the company’s stock after selling 12,971 shares during the period. HighTower Advisors LLC’s holdings in LandBridge were worth $4,514,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its stake in LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of LandBridge by 805.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,232 shares of the company’s stock valued at $67,000 after buying an additional 1,096 shares in the last quarter. Generali Investments Management Co LLC purchased a new position in shares of LandBridge in the 2nd quarter worth approximately $117,000. Osaic Holdings Inc. raised its stake in shares of LandBridge by 12.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock worth $183,000 after acquiring an additional 301 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in LandBridge during the second quarter valued at approximately $218,000.

Analysts Set New Price Targets

LB has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Janney Montgomery Scott cut LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. Piper Sandler boosted their target price on LandBridge from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, November 24th. Raymond James Financial cut LandBridge from a “moderate buy” rating to a “strong sell” rating in a research note on Friday, December 5th. Finally, UBS Group reissued a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a report on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, LandBridge currently has an average rating of “Hold” and an average target price of $73.33.

Insider Transactions at LandBridge

In other news, insider Harrison Fenner Bolling acquired 850 shares of LandBridge stock in a transaction dated Monday, January 5th. The stock was purchased at an average cost of $46.84 per share, for a total transaction of $39,814.00. Following the completion of the purchase, the insider directly owned 66,874 shares in the company, valued at $3,132,378.16. This trade represents a 1.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Thomas Long bought 2,143 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were purchased at an average cost of $46.59 per share, with a total value of $99,842.37. Following the acquisition, the insider directly owned 223,546 shares of the company’s stock, valued at approximately $10,415,008.14. This trade represents a 0.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 3,542 shares of company stock worth $164,630 over the last three months. Corporate insiders own 70.42% of the company’s stock.

LandBridge Price Performance

NYSE LB opened at $66.04 on Wednesday. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 94.34 and a beta of 0.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.15 and a quick ratio of 4.15. The stock’s fifty day moving average price is $56.28 and its 200 day moving average price is $56.53. LandBridge Company LLC has a 1 year low of $43.75 and a 1 year high of $87.60.

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.