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 0.61%.

LandBridge Price Performance

LB stock traded down $6.70 during trading on Friday, hitting $65.70. 588,437 shares of the company traded hands, compared to its average volume of 684,801. LandBridge has a 1 year low of $18.75 and a 1 year high of $84.70. The company has a 50-day moving average of $68.08 and a 200-day moving average of $56.26. 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 equities research analysts recently weighed in on the company. Royal Bank of Canada restated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Raymond James increased their target price on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays increased their target price on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Piper Sandler upped their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. One investment 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’s stock. According to MarketBeat, LandBridge 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.