LandBridge Co LLC (NYSE:LB) Announces $0.10 Quarterly Dividend

LandBridge Co LLC (NYSE:LB) announced a quarterly dividend on Friday, February 21st, RTT News reports. Stockholders of record on Thursday, March 6th will be paid a dividend of 0.10 per share on Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.61%.

LandBridge Trading Down 9.3 %

Shares of NYSE LB traded down $6.70 during mid-day trading on Friday, reaching $65.70. The company had a trading volume of 588,437 shares, compared to its average volume of 740,602. LandBridge has a 1-year low of $18.75 and a 1-year high of $84.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50-day moving average price of $68.19 and a two-hundred day moving average price of $56.51.

Wall Street Analyst Weigh In

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

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.