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

Key Points

• LandBridge Company LLC has announced a quarterly dividend of $0.10 per share, which will be distributed to stockholders on September 18th, 2023.
• The company’s stock recently increased by 0.6% to $59.42, with a market capitalization of $4.54 billion and a current consensus rating of "Hold."
• Analysts have mixed opinions on the stock, with one downgrade from Johnson Rice and a price target decrease from Barclays, while Wells Fargo increased their target price from $82.00 to $93.00, reflecting varied perspectives on its performance.

LandBridge Company LLC (NYSE:LB - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Thursday, September 4th will be given a dividend of 0.10 per share on Thursday, September 18th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 4th.

LandBridge Stock Up 0.6%

Shares of LB traded up $0.37 during midday trading on Wednesday, hitting $59.42. The company had a trading volume of 540,159 shares, compared to its average volume of 585,766. The company's 50 day moving average price is $64.63 and its 200 day moving average price is $68.99. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 16.69 and a beta of 0.32. LandBridge has a 52 week low of $30.85 and a 52 week high of $87.60. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.60.

Wall Street Analyst Weigh In

Several research firms have recently commented on LB. Johnson Rice lowered shares of LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Barclays decreased their price target on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Finally, Wells Fargo & Company boosted their target price on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, LandBridge presently has a consensus rating of "Hold" and a consensus target price of $65.86.

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.

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