LandBridge Co LLC (LB) to Issue Quarterly Dividend of $0.10 on March 20th

LandBridge Co LLC (NYSE:LB) declared 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 yield of 0.62%. The ex-dividend date is Thursday, March 6th.

LandBridge Stock Down 7.4 %

Shares of NYSE:LB opened at $64.05 on Tuesday. The stock has a market cap of $4.69 billion and a price-to-earnings ratio of 17.99. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $84.70. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average price is $69.03 and its 200 day moving average price is $57.98.

Wall Street Analysts Forecast Growth

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