Annex Advisory Services LLC Makes New Investment in LandBridge Co LLC (NYSE:LB)

Annex Advisory Services LLC bought a new position in LandBridge Co LLC (NYSE:LB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 18,041 shares of the company’s stock, valued at approximately $1,165,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in shares of LandBridge during the second quarter valued at approximately $1,158,000. Ghisallo Capital Management LLC bought a new position in shares of LandBridge during the second quarter valued at approximately $1,158,000. Point72 DIFC Ltd bought a new position in shares of LandBridge during the second quarter valued at approximately $497,000. M&R Capital Management Inc. bought a new position in shares of LandBridge during the third quarter valued at approximately $39,000. Finally, Requisite Capital Management LLC bought a new position in shares of LandBridge during the third quarter valued at approximately $293,000.

LandBridge Price Performance

Shares of LB stock opened at $74.83 on Tuesday. The stock’s 50-day simple moving average is $67.67 and its 200-day simple moving average is $50.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge Co LLC has a fifty-two week low of $18.75 and a fifty-two week high of $80.82.

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Thursday, December 5th.

Wall Street Analyst Weigh In

LB has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Barclays raised their target price on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research note on Friday. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, LandBridge presently has an average rating of “Moderate Buy” and an average price target of $47.67.

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.