LandBridge Company LLC (LB) to Issue Quarterly Dividend of $0.12 on June 18th

LandBridge Company LLC (NYSE:LB) declared a quarterly dividend on Wednesday, May 6th. Stockholders of record on Thursday, June 4th will be given a dividend of 0.12 per share on Thursday, June 18th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, June 4th.

LandBridge has a dividend payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect LandBridge to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.3%.

LandBridge Price Performance

LB opened at $70.37 on Tuesday. LandBridge has a 12-month low of $43.75 and a 12-month high of $85.60. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $69.70 and its 200-day simple moving average is $63.63. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 72.54 and a beta of 0.14.

LandBridge (NYSE:LB) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The firm had revenue of $51.01 million for the quarter, compared to the consensus estimate of $58.72 million. During the same period in the previous year, the company posted $0.37 EPS. LandBridge’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that LandBridge will post 1.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LB. Barclays raised their price objective on LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Piper Sandler reaffirmed a “neutral” rating and set a $66.00 price objective (up from $65.00) on shares of LandBridge in a research report on Friday, May 8th. Wells Fargo & Company raised their price objective on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Zacks Research downgraded LandBridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Finally, The Goldman Sachs Group set a $84.00 price objective on LandBridge in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, LandBridge currently has an average rating of “Hold” and an average target price of $76.17.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.