LandBridge Co LLC (NYSE:LB) Announces $0.10 Dividend

LandBridge Co LLC (NYSE:LB) declared a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors of record on Thursday, December 5th will be given a dividend of 0.10 per share on Thursday, December 19th. The ex-dividend date is Thursday, December 5th.

LandBridge Stock Performance

NYSE:LB traded up $6.85 during trading hours on Thursday, reaching $68.39. 748,113 shares of the company were exchanged, compared to its average volume of 352,608. The stock has a 50-day moving average of $45.08. LandBridge has a twelve month low of $18.75 and a twelve month high of $71.60.

Analyst Upgrades and Downgrades

LB has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Pickering Energy Partners started coverage on LandBridge in a research report on Tuesday, July 23rd. They issued an “outperform” rating for the company. Raymond James initiated coverage on LandBridge in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $34.00 price objective for the company. Janney Montgomery Scott began coverage on LandBridge in a research note on Thursday, July 25th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Citigroup increased their price objective on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.57.

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.