LandBridge Company LLC
In the published model solve dated 2026-Q2, anchored at $75.44, LandBridge Company LLC (LB) is priced for today's economics sustained for ~20.8 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• LandBridge owns surface acreage in the Delaware sub-region of the Permian and monetizes it with almost no capital of its own, collecting royalties and fees as operators drill, move water, and now build infrastructure on its land. • The economics are extraordinary on paper, a roughly 60% operating margin and an 80% free-cash-flow margin, but the revenue is substantially dependent on third-party drilling and produced-water activity around its acreage, so the cash flow rises and falls with Permia
Is LB overvalued? See what's priced in →
183 institutional managers reported holding LB in 13F filings for the quarter ended 2026-03-31. Together they hold about 36% of the company; the top 10 hold 26%. 56 opened new positions that quarter. Held by Morgan Stanley, FMR (Fidelity), Vanguard Group, among others. On the short side, 3.4M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (11.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
It pays a dividend, and has paid one every year in our records (2 and counting). Cash returned over the past three years: $256.69M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at LB over the trailing three years: 2024: 3 buys totaling $2.20M; 2026: 3 buys totaling $165k. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
LB's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2024-11-08 | +22.0% | -1.9% |
| 2025-03-07 | -5.6% | +3.5% |
| 2025-05-09 | -11.2% | -14.8% |
| 2025-11-13 | -14.9% | -17.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
LB's latest 8-K filings: 2026-08-05 (items 2.02, 7.01, 9.01); 2026-06-24 (items 5.07); 2026-05-06 (items 2.02, 7.01, 9.01); 2026-03-19 (items 7.01); 2026-02-25 (items 2.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.