Axxcess Wealth Management LLC Sells 2,343 Shares of LandBridge Co LLC (NYSE:LB)

Axxcess Wealth Management LLC cut its holdings in shares of LandBridge Co LLC (NYSE:LB) by 42.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,229 shares of the company’s stock after selling 2,343 shares during the period. Axxcess Wealth Management LLC’s holdings in LandBridge were worth $209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of LandBridge during the fourth quarter worth about $50,000. KBC Group NV bought a new stake in LandBridge in the 4th quarter worth about $72,000. Blue Trust Inc. bought a new stake in LandBridge in the 4th quarter worth about $110,000. BNP Paribas Financial Markets bought a new stake in LandBridge in the 3rd quarter worth about $168,000. Finally, Canton Hathaway LLC bought a new stake in LandBridge in the 4th quarter worth about $211,000.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LB shares. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. Barclays upped their price objective on shares of LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday. Piper Sandler reduced their price objective on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. Finally, Raymond James boosted their target price on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.56.

LandBridge Stock Performance

Shares of LB stock opened at $77.61 on Friday. The stock has a market capitalization of $5.68 billion and a P/E ratio of 21.80. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $70.03 and its 200 day moving average is $61.29. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $84.70.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Thursday, March 6th. LandBridge’s payout ratio is currently 11.24%.

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.