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

LandBridge Co LLC (NYSE:LB) declared a quarterly dividend on Friday, February 21st, RTT News reports. Stockholders of record on Thursday, March 6th will be given 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 0.62%. The ex-dividend date of this dividend is Thursday, March 6th.

LandBridge Trading Down 7.4 %

NYSE LB opened at $64.05 on Tuesday. The business’s 50-day moving average price is $69.03 and its two-hundred day moving average price is $57.98. LandBridge has a 12 month low of $18.75 and a 12 month high of $84.70. The firm has a market capitalization of $4.69 billion and a PE ratio of 17.99. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

Wall Street Analyst Weigh In

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