Fairway Wealth LLC Takes Position in LandBridge Co LLC (NYSE:LB)

Fairway Wealth LLC purchased a new stake in LandBridge Co LLC (NYSE:LB) during the fourth quarter, Holdings Channel reports. The firm purchased 777 shares of the company’s stock, valued at approximately $50,000.

A number of other large investors have also recently bought and sold shares of the stock. KBC Group NV acquired a new position in shares of LandBridge during the fourth quarter valued at $72,000. Blue Trust Inc. bought a new position in shares of LandBridge during the fourth quarter worth about $110,000. BNP Paribas Financial Markets bought a new position in shares of LandBridge during the third quarter worth about $168,000. Canton Hathaway LLC bought a new position in shares of LandBridge during the fourth quarter worth about $211,000. Finally, Axxcess Wealth Management LLC bought a new position in LandBridge in the third quarter valued at approximately $218,000.

LandBridge Stock Performance

LandBridge stock opened at $67.40 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $84.70. The firm has a 50-day moving average of $69.31 and a 200-day moving average of $58.99. The firm has a market cap of $4.93 billion and a P/E ratio of 18.93.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analysts Forecast Growth

LB has been the subject of a number of recent analyst reports. Piper Sandler cut their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday. Barclays raised their price objective on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. The Goldman Sachs Group restated a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Royal Bank of Canada restated an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. Finally, Raymond James boosted their price objective on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One equities research 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.com, LandBridge currently has an average rating of “Moderate Buy” and a consensus target price of $57.44.

LandBridge Company 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.