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. Shareholders 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 annualized dividend and a dividend yield of 0.61%.

LandBridge Stock Performance

Shares of LB traded down $6.70 during mid-day trading on Friday, hitting $65.70. The stock had a trading volume of 588,437 shares, compared to its average volume of 684,801. The business has a fifty day moving average price of $68.08 and a 200-day moving average price of $56.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge has a 52 week low of $18.75 and a 52 week high of $84.70.

Wall Street Analysts Forecast Growth

LB has been the topic of several research reports. Raymond James boosted their target price on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Piper Sandler boosted their price objective on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, Barclays boosted their price objective on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, LandBridge presently has an average rating of “Moderate Buy” and an average target price of $53.33.

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.