Y Intercept Hong Kong Ltd Lowers Holdings in LandBridge Company LLC $LB

Y Intercept Hong Kong Ltd trimmed its position in LandBridge Company LLC (NYSE:LB) by 89.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,439 shares of the company’s stock after selling 35,790 shares during the period. Y Intercept Hong Kong Ltd’s holdings in LandBridge were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of LB. Comerica Bank raised its position in LandBridge by 13.6% during the 3rd quarter. Comerica Bank now owns 1,369 shares of the company’s stock worth $73,000 after buying an additional 164 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of 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 acquiring an additional 209 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of LandBridge by 0.8% in the second quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after acquiring an additional 230 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of LandBridge by 12.5% during the second quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock worth $183,000 after acquiring an additional 301 shares during the period. Finally, Independent Advisor Alliance increased its stake in shares of LandBridge by 2.7% during the fourth quarter. Independent Advisor Alliance now owns 17,112 shares of the company’s stock worth $838,000 after acquiring an additional 456 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LB shares. Piper Sandler reissued a “neutral” rating and set a $66.00 price target (up from $65.00) on shares of LandBridge in a report on Friday, May 8th. Wells Fargo & Company boosted their target price on LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. The Goldman Sachs Group set a $84.00 target price on LandBridge in a research note on Thursday, May 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a report on Monday, July 6th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.17.

LandBridge Stock Performance

Shares of LB opened at $78.11 on Thursday. The company has a 50-day simple moving average of $70.98 and a 200-day simple moving average of $66.44. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6.02 billion, a PE ratio of 80.53 and a beta of 0.02. LandBridge Company LLC has a 52-week low of $43.75 and a 52-week high of $85.60.

LandBridge (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.32). The company had revenue of $51.01 million during the quarter, compared to analyst estimates of $58.72 million. LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business earned $0.37 EPS. Equities research analysts predict that LandBridge Company LLC will post 1.48 earnings per share for the current fiscal year.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, June 4th. LandBridge’s dividend payout ratio (DPR) is presently 49.48%.

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.