LandBridge Co LLC (LB)
Energy · Oil and Gas Land Ownership / Mineral and Surface Rights Management · NYSE
Strategic Permian Basin landowner generating recurring royalties and surface fees from energy and infrastructure development on 315,000 acres with visibility into production trends via affiliated water midstream operator.
What LandBridge Co LLC does
LandBridge owns and manages over 315,000 surface acres in the Delaware Basin sub-region of the Permian Basin, positioned at the Texas-New Mexico border where hydrocarbon concentrations and drilling activity are highest. The company generates revenue by leasing land for oil and natural gas development, infrastructure construction (including water midstream facilities operated by affiliate WaterBridge), solar power generation, power storage, and digital infrastructure projects. LandBridge earns royalties from produced water handling, surface use fees, and access agreements, while benefiting from minimal capital deployment as customers bear development costs on its land.
Themes: ["Permian Basin / Delaware Basin energy infrastructure","Oil and gas land leasing","Water midstream and produced water handling","Energy infrastructure monetization","Renewable energy infrastructure (solar, power storage)","Critical infrastructure access and royalties"]
Fundamentals
- Price$76.69 as of 2026-07-10 close
- Market cap$5.9B as of 2026-07-12
- 1-year return+22.5% as of 2026-07-10 close
- P/E182.41 as of 2026-07-12
- Net margin+15.7% as of 2026-07-12
- Gross margin+99.0% as of 2026-07-12
- ROE+10.6% as of 2026-07-12
- Debt / equity1.55 as of 2026-07-12
- Revenue growth (YoY)+52.8% as of 2026-07-12
- Revenue CAGR (3y)+65.3% SEC XBRL
- Beta0.38 as of 2026-07-12
Dividend: yield +0.6%; pays a dividend.
Key risks (from latest filing)
["Heavy reliance on limited customer base in single region (Delaware Basin); customer consolidation could materially reduce revenues","Commodity price volatility and customer ability to navigate downcycles; dependence on oil and natural gas exploration and development activity levels","Regulatory and policy uncertainty including potential changes to hydraulic fracturing, emissions, carbon pricing, water disposal and transfer regulations, and energy production policies"]
Competitors & peers
- Texas Pacific Land Corporation (TPL)
- Callon Petroleum Company
- Continental Resources
- ConocoPhillips
- Pioneer Natural Resources
- EOG Resources
Fundamentals: Finnhub, as of 2026-07-12. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-10.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.