LandBridge Co LLC (NYSE:LB) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC grew its holdings in LandBridge Co LLC (NYSE:LB) by 10.3% during the third quarter, Holdings Channel reports. The firm owned 5,190,867 shares of the company’s stock after acquiring an additional 484,968 shares during the quarter. LandBridge comprises about 3.0% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 3rd largest position. Horizon Kinetics Asset Management LLC owned approximately 0.07% of LandBridge worth $203,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP bought a new position in LandBridge during the second quarter worth $1,158,000. Ghisallo Capital Management LLC acquired a new position in shares of LandBridge during the second quarter valued at about $1,158,000. Point72 DIFC Ltd bought a new position in shares of LandBridge during the 2nd quarter worth about $497,000. M&R Capital Management Inc. acquired a new stake in shares of LandBridge in the 3rd quarter valued at about $39,000. Finally, Requisite Capital Management LLC bought a new stake in LandBridge in the 3rd quarter valued at about $293,000.

LandBridge Stock Up 2.8 %

Shares of LandBridge stock opened at $79.60 on Monday. The company’s fifty day simple moving average is $53.09. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge Co LLC has a 1 year low of $18.75 and a 1 year high of $79.60.

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.50%. The ex-dividend date is Thursday, December 5th.

Analysts Set New Price Targets

A number of equities research analysts have commented on LB shares. Piper Sandler raised their price objective on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday. The Goldman Sachs Group lifted their price target on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Barclays upped their target price on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Citigroup lifted their price target on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.88.

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.