Segment Wealth Management LLC Lowers Position in LandBridge Company LLC $LB

Segment Wealth Management LLC cut its stake in shares of LandBridge Company LLC (NYSE:LB) by 20.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,000 shares of the company’s stock after selling 1,000 shares during the period. Segment Wealth Management LLC’s holdings in LandBridge were worth $270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. US Bancorp DE purchased a new position in shares of LandBridge in the first quarter valued at about $28,000. Uniplan Investment Counsel Inc. purchased a new position in shares of LandBridge in the first quarter valued at about $30,000. Banque Transatlantique SA purchased a new position in shares of LandBridge in the first quarter valued at about $34,000. Deutsche Bank AG purchased a new position in shares of LandBridge in the first quarter valued at about $55,000. Finally, Avondale Wealth Management purchased a new position in shares of LandBridge in the second quarter valued at about $81,000.

LandBridge Stock Performance

Shares of LB stock opened at $56.61 on Friday. LandBridge Company LLC has a 12-month low of $43.79 and a 12-month high of $87.60. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average price is $53.74 and its 200-day moving average price is $64.18. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 15.90 and a beta of 0.14.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 4th. LandBridge’s payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LB. Piper Sandler lowered their price objective on LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Barclays lowered their price objective on LandBridge from $80.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Weiss Ratings restated a “hold (c-)” rating on shares of LandBridge in a research report on Saturday, September 27th. Finally, Raymond James Financial reduced their target price on LandBridge from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.00.

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.