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

LandBridge Co LLC (NYSE:LB) announced a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Thursday, December 5th will be given a dividend of 0.10 per share on Thursday, December 19th. The ex-dividend date is Thursday, December 5th.

LandBridge Stock Up 11.1 %

NYSE LB traded up $6.85 during mid-day trading on Thursday, reaching $68.39. 748,113 shares of the stock were exchanged, compared to its average volume of 352,608. The company has a 50 day moving average of $45.08. LandBridge has a one year low of $18.75 and a one year high of $71.60.

Analysts Set New Price Targets

Several equities analysts have issued reports on LB shares. Barclays boosted 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. Raymond James initiated coverage on shares of LandBridge in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $34.00 target price on the stock. The Goldman Sachs Group raised 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. Wells Fargo & Company upped their price objective on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Pickering Energy Partners initiated coverage on LandBridge in a research report on Tuesday, July 23rd. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.57.

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.