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. 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 dividend on an annualized basis and a yield of 0.61%.

LandBridge Stock Down 9.3 %

LB stock traded down $6.70 during trading on Friday, reaching $65.70. The stock had a trading volume of 588,437 shares, compared to its average volume of 740,602. LandBridge has a 1-year low of $18.75 and a 1-year high of $84.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a fifty day moving average price of $68.19 and a 200 day moving average price of $56.51.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LB. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price objective on shares of LandBridge in a report on Friday, January 3rd. Barclays boosted their target price on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Piper Sandler boosted their target price on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Raymond James boosted their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. One 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. Based on data from MarketBeat, the company presently has a consensus 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.