LandBridge (LB)
Manages Delaware Basin land and resources for energy and industrial development.
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Owns and manages Delaware Basin land and resources, monetizing activity tied to energy, infrastructure, and industrial development. Its strategy centers on active land management rather than direct upstream production.
Owns and manages land and resources in the Delaware Basin, monetizing commercial activity tied to energy production, water infrastructure, power, digital infrastructure, and industrial development. Its largely contiguous acreage spans Texas and New Mexico and is concentrated in the US.
Active land management links a broad surface position to infrastructure and development opportunities rather than direct upstream production. The platform was assembled through acquisitions and is structured as a holding company with an interest in OpCo as its principal asset.
Five Point is the financial sponsor, while affiliated WaterBridge shares management and provides water-infrastructure context. Commercial development on or near the acreage and the WaterBridge relationship shape the business.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 1, 2026 | Piper Sandler | Reiterate | Rating: —Target: $80 | Target: $88 |
| Jul 21, 2026 | Piper Sandler | Reiterate | Rating: —Target: $66 | Target: $80 |
| May 28, 2026 | Goldman Sachs | Target | Target: $35 | Target: $84 |
| May 8, 2026 | Piper Sandler | Reiterate | Rating: —Target: $65 | Target: $66 |
| Nov 26, 2025 | Wells Fargo | Reiterate | Rating: —Target: $82 | Target: $90 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $39.8M · Total debt $535.7M · Total assets $1.38B · Shareholders' equity $355.5M
- Revenue
- $66.8M
- Operating income
- $44.2M
- Net income
- $12.3M
HistoryDividendAnnual yield
| Institutions | ≈ 36.68% | 28.28M shares | |
|---|---|---|---|
| 200 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.72% | 556.1K shares | |
| 8 holders · as of Aug 6, 2026 | |||
| Other | ≈ 62.60% | 48.25M shares | |
| remainder | |||
77.09M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
First Manhattan Co. LLC.Institution | 9.19% | 7.08M A | as of Jun 30, 2026 |
Horizon Kinetics Asset Management LLCInstitution | 7.55% | 5.82M A | as of Jun 30, 2026 |
FMR LLCInstitution | 2.30% | 1.78M A | as of Jun 30, 2026 |
T. Rowe Price Investment Management, Inc.Institution | 1.66% | 1.28M A | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 1.64% | 1.27M A | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | LandBridge Holdings LLC | director, 10 percent owner: | −1,250,000 | $75.05 |
| Aug 7, 2026 | David N. Capobianco | director, 10 percent owner: | −1,250,000 | $75.05 |
| Mar 6, 2026 | Charles L. Watson | director | −13,000 | $75.00 |
| Mar 4, 2026 | Charles L. Watson | director | −9,670 | $75.19 |
| Mar 2, 2026 | Charles L. Watson | director | −30,680 | $74.07 |
- Texas Pacific Land
Permian land, water and surface-rights overlap
- Viper Energy
Permian mineral and royalty-interest acquirer
- Kimbell Royalty Partners
Diversified mineral-and-royalty owner with Permian exposure
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| LandBridge | $84.70 | −2.55% | $6.69B | — | 37.8 | — | +40.5% |
| Texas Pacific Land | $349.91 | −1.50% | $24.50B | 45.3 | 34.7 | 27.3 | +31.2% |
| Viper Energy | $41.60 | +2.04% | $14.68B | 313.6 | 16.8 | 7.5 | +128.0% |
| Kimbell Royalty Partners | $14.49 | +1.38% | $1.41B | 21.9 | 13.5 | 3.8 | +30.0% |
| Median | 45.3 | 16.8 | 7.5 | +31.2% |