Viking Fund Management LLC Invests $2.13 Million in LandBridge Company LLC $LB

Viking Fund Management LLC purchased a new stake in shares of LandBridge Company LLC (NYSE:LB) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 40,000 shares of the company’s stock, valued at approximately $2,134,000.

A number of other hedge funds have also recently added to or reduced their stakes in LB. Amundi acquired a new stake in LandBridge in the first quarter valued at approximately $5,763,000. Kingswood Wealth Advisors LLC increased its position in LandBridge by 50.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 44,891 shares of the company’s stock worth $3,034,000 after buying an additional 15,136 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of LandBridge by 17.1% in the first quarter. Vanguard Group Inc. now owns 697,748 shares of the company’s stock worth $50,196,000 after buying an additional 102,085 shares during the last quarter. First Manhattan CO. LLC. increased its holdings in shares of LandBridge by 3.1% during the 1st quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company’s stock valued at $201,303,000 after acquiring an additional 84,701 shares during the last quarter. Finally, LPL Financial LLC boosted its position in LandBridge by 69.7% during the first quarter. LPL Financial LLC now owns 17,829 shares of the company’s stock worth $1,283,000 after purchasing an additional 7,320 shares during the period.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Janney Montgomery Scott lowered shares of LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. UBS Group reiterated a “neutral” rating and set a $65.00 price target on shares of LandBridge in a report on Monday, November 24th. Wells Fargo & Company lowered their price objective on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Barclays dropped their target price on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Finally, Piper Sandler increased their price target on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.33.

LandBridge Stock Up 0.0%

Shares of NYSE LB opened at $52.62 on Friday. LandBridge Company LLC has a 52-week low of $48.55 and a 52-week high of $87.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.15 and a current ratio of 4.15. The business has a fifty day moving average of $59.56 and a two-hundred day moving average of $58.72. The stock has a market cap of $4.10 billion, a PE ratio of 75.17 and a beta of 0.25.

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44). The firm had revenue of $50.83 million for the quarter, compared to the consensus estimate of $49.13 million. LandBridge had a net margin of 13.72% and a return on equity of 4.63%. As a group, equities research analysts expect that LandBridge Company LLC will post 0.99 earnings per share for the current fiscal year.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, December 4th. LandBridge’s payout ratio is presently 57.14%.

Insider Buying and Selling

In related news, Director Point Energy Fund Aiv- Five II sold 2,500,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $70.00, for a total transaction of $175,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 70.42% of the stock is currently owned by company insiders.

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