Horizon Kinetics Asset Management LLC Has $203.07 Million Position in LandBridge Co LLC (NYSE:LB)

Horizon Kinetics Asset Management LLC increased its stake in LandBridge Co LLC (NYSE:LB) by 10.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,190,867 shares of the company’s stock after purchasing an additional 484,968 shares during the period. LandBridge makes up 3.0% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 3rd biggest holding. Horizon Kinetics Asset Management LLC owned 7.10% of LandBridge worth $203,067,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of LandBridge in the 3rd quarter valued at $31,000. M&R Capital Management Inc. acquired a new stake in LandBridge in the third quarter valued at about $39,000. Axxcess Wealth Management LLC bought a new position in LandBridge in the third quarter valued at about $218,000. Requisite Capital Management LLC acquired a new position in LandBridge during the third quarter worth about $293,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of LandBridge in the third quarter worth about $383,000.

LandBridge Price Performance

Shares of LB stock opened at $79.60 on Monday. The company has a 50-day moving average of $53.09. The company has a quick ratio of 0.73, a current 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 $79.60.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.50%.

Wall Street Analysts Forecast Growth

LB has been the topic of several research reports. Citigroup lifted their price target on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. The Goldman Sachs Group upped their price target on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Piper Sandler raised their price objective on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company upped their target price on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Barclays lifted their price target on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, LandBridge currently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

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.