Sprott Inc. Purchases 16,909 Shares of LandBridge Co LLC (NYSE:LB)

Sprott Inc. grew its position in shares of LandBridge Co LLC (NYSE:LB) by 35.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,232 shares of the company’s stock after buying an additional 16,909 shares during the quarter. Sprott Inc. owned approximately 0.09% of LandBridge worth $4,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LB. Raymond James & Associates boosted its holdings in shares of LandBridge by 9.2% in the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock worth $8,972,000 after acquiring an additional 19,350 shares in the last quarter. International Assets Investment Management LLC acquired a new position in LandBridge in the third quarter worth $1,836,000. Axxcess Wealth Management LLC bought a new stake in shares of LandBridge during the third quarter worth $218,000. OneDigital Investment Advisors LLC acquired a new stake in shares of LandBridge in the third quarter valued at $383,000. Finally, EagleClaw Capital Managment LLC acquired a new stake in shares of LandBridge in the third quarter valued at $920,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LB shares. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. Raymond James upped their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Piper Sandler raised their price target on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of LandBridge in a report on Friday, January 3rd. Finally, Barclays increased their price objective on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.33.

LandBridge Stock Performance

LB stock opened at $60.98 on Wednesday. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The business’s fifty day moving average is $68.38 and its 200-day moving average is $57.29.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, March 6th.

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.