LandBridge (LB)
Market Price (3/28/2026): $72.02 | Market Cap: $1.9 BilSector: Energy | Industry: Oil & Gas Equipment & Services
LandBridge (LB)
Market Price (3/28/2026): $72.02Market Cap: $1.9 BilSector: EnergyIndustry: Oil & Gas Equipment & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 81% | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10% | Expensive valuation multiplesP/SPrice/Sales ratio is 9.6x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 15x, P/EPrice/Earnings or Price/(Net Income) is 64x |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 60% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 23% | |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 63%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 61% | Key risksLB key risks include [1] significant concerns regarding its financial credibility and corporate governance, Show more. | |
| Attractive yieldDividend Yield is 3.3%, FCF Yield is 6.4% | ||
| Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers. Themes include E-commerce Logistics REITs, Data Center REITs, and Cold Storage Facilities. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 81% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 60% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 63%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 61% |
| Attractive yieldDividend Yield is 3.3%, FCF Yield is 6.4% |
| Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers. Themes include E-commerce Logistics REITs, Data Center REITs, and Cold Storage Facilities. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 9.6x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 15x, P/EPrice/Earnings or Price/(Net Income) is 64x |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 23% |
| Key risksLB key risks include [1] significant concerns regarding its financial credibility and corporate governance, Show more. |
Qualitative Assessment
AI Analysis | Feedback
LandBridge (LB) stock has gained about 25% since 11/30/2025 because of the following key factors:
1. LandBridge reported strong financial results for the fourth quarter and full fiscal year 2025, exceeding previous year figures.
The company announced Q4 2025 revenues of $56.8 million, marking a 56% year-over-year increase and a 12% quarter-over-quarter rise. For the full fiscal year 2025, revenues reached $199.1 million, an 81% increase from the prior year. Adjusted EBITDA also saw substantial growth, with $51.1 million in Q4 2025 (up 61% year-over-year) and $177.2 million for the full year 2025 (up 83% year-over-year). LandBridge further projected a positive outlook for 2026, with an Adjusted EBITDA guidance range of $205 million to $225 million, indicating a projected growth of over 20% at the midpoint.
2. The company enhanced shareholder returns through a significant dividend increase and a new share repurchase program.
LandBridge declared a quarterly cash dividend of $0.12 per share, representing a 20% increase from its previous dividend of $0.10 per share. Additionally, the company's board authorized a $50 million share repurchase program extending through 2027, which allows for the repurchase of up to 1% of its shares.
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1. LandBridge reported strong financial results for the fourth quarter and full fiscal year 2025, exceeding previous year figures.
The company announced Q4 2025 revenues of $56.8 million, marking a 56% year-over-year increase and a 12% quarter-over-quarter rise. For the full fiscal year 2025, revenues reached $199.1 million, an 81% increase from the prior year. Adjusted EBITDA also saw substantial growth, with $51.1 million in Q4 2025 (up 61% year-over-year) and $177.2 million for the full year 2025 (up 83% year-over-year). LandBridge further projected a positive outlook for 2026, with an Adjusted EBITDA guidance range of $205 million to $225 million, indicating a projected growth of over 20% at the midpoint.
2. The company enhanced shareholder returns through a significant dividend increase and a new share repurchase program.
LandBridge declared a quarterly cash dividend of $0.12 per share, representing a 20% increase from its previous dividend of $0.10 per share. Additionally, the company's board authorized a $50 million share repurchase program extending through 2027, which allows for the repurchase of up to 1% of its shares.
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Stock Movement Drivers
Fundamental Drivers
The 26.9% change in LB stock from 11/30/2025 to 3/27/2026 was primarily driven by a 11.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 11302025 | 3272026 | Change |
|---|---|---|---|
| Stock Price ($) | 56.76 | 72.02 | 26.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 179 | 199 | 11.3% |
| Net Income Margin (%) | 13.7% | 15.1% | 10.3% |
| P/E Multiple | 58.6 | 63.5 | 8.4% |
| Shares Outstanding (Mil) | 25 | 27 | -4.7% |
| Cumulative Contribution | 26.9% |
Market Drivers
11/30/2025 to 3/27/2026| Return | Correlation | |
|---|---|---|
| LB | 26.9% | |
| Market (SPY) | -5.3% | 10.2% |
| Sector (XLE) | 39.5% | 35.6% |
Fundamental Drivers
The 36.2% change in LB stock from 8/31/2025 to 3/27/2026 was primarily driven by a 27.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312025 | 3272026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.88 | 72.02 | 36.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 156 | 199 | 27.2% |
| Net Income Margin (%) | 12.2% | 15.1% | 24.1% |
| P/E Multiple | 66.7 | 63.5 | -4.8% |
| Shares Outstanding (Mil) | 24 | 27 | -9.4% |
| Cumulative Contribution | 36.2% |
Market Drivers
8/31/2025 to 3/27/2026| Return | Correlation | |
|---|---|---|
| LB | 36.2% | |
| Market (SPY) | 0.6% | 25.2% |
| Sector (XLE) | 40.8% | 42.7% |
Fundamental Drivers
The 4.9% change in LB stock from 2/28/2025 to 3/27/2026 was primarily driven by a 119.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282025 | 3272026 | Change |
|---|---|---|---|
| Stock Price ($) | 68.62 | 72.02 | 4.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 91 | 199 | 119.0% |
| P/S Multiple | 13.2 | 9.6 | -26.9% |
| Shares Outstanding (Mil) | 17 | 27 | -34.4% |
| Cumulative Contribution | 4.9% |
Market Drivers
2/28/2025 to 3/27/2026| Return | Correlation | |
|---|---|---|
| LB | 4.9% | |
| Market (SPY) | 9.8% | 44.1% |
| Sector (XLE) | 42.1% | 50.4% |
Fundamental Drivers
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Market Drivers
2/28/2023 to 3/27/2026| Return | Correlation | |
|---|---|---|
| LB | ||
| Market (SPY) | 69.4% | 38.2% |
| Sector (XLE) | 65.5% | 41.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LB Return | - | - | - | 179% | -24% | 49% | 217% |
| Peers Return | 39% | 41% | -14% | 100% | -10% | 26% | 282% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| LB Win Rate | - | - | - | 71% | 50% | 67% | |
| Peers Win Rate | 56% | 53% | 60% | 67% | 38% | 73% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| LB Max Drawdown | - | - | - | -1% | -24% | -10% | |
| Peers Max Drawdown | -10% | -14% | -28% | -5% | -18% | -10% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TPL, VNOM, ARIS, WBI, HESM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)
How Low Can It Go
LB has limited trading history. Below is the Energy sector ETF (XLE) in its place.
| Event | XLE | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -26.9% | -25.4% |
| % Gain to Breakeven | 36.7% | 34.1% |
| Time to Breakeven | 116 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -60.6% | -33.9% |
| % Gain to Breakeven | 153.8% | 51.3% |
| Time to Breakeven | 660 days | 148 days |
| 2018 Correction | ||
| % Loss | -31.8% | -19.8% |
| % Gain to Breakeven | 46.6% | 24.7% |
| Time to Breakeven | 1,201 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -57.8% | -56.8% |
| % Gain to Breakeven | 137.1% | 131.3% |
| Time to Breakeven | 1,858 days | 1,480 days |
Compare to TPL, VNOM, ARIS, WBI, HESM
In The Past
SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 6/8/2022. A -26.9% loss requires a 36.7% gain to breakeven.
Preserve Wealth
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Asset Allocation
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About LandBridge (LB)
Land is critical to energy development and production. We own approximately 220,000 surface acres in and around the Delaware sub-basin in the prolific Permian Basin, which is the most active region for oil and natural gas exploration and development in the United States. Access to expansive surface acreage is necessary for oil and natural gas development, solar power generation, power storage, data centers and non-hazardous oilfield reclamation and solid waste facilities. Further, the significant industrial economy that exists to service and support energy development requires access to surface acreage to support those activities. Our strategy is to actively manage our land and resources to support and encourage oil and natural gas development and other land uses that will generate long-term revenue and Free Cash Flow for us and returns to our shareholders. The Delaware Basin is the most active oil and natural gas development and production region of the prolific Permian Basin due to the abundant remaining oil and natural gas resources and low break-even cost of development. Activity in the Delaware Basin is dominated by large, generally publicly listed, well-capitalized producers. Our land is located predominantly in the heart of the Delaware Basin, along and near the regulatory divide of the Texas-New Mexico state border, which represents some of the most productive acreage in the Delaware Basin with a high concentration of hydrocarbons and growing drilling and completion activity. We believe that our strategic location positions us to capture additional revenues from the growth in infrastructure required to facilitate the development of these resources. We share a financial sponsor, Five Point, and our management team with WaterBridge. WaterBridge is one of the largest water midstream companies in the United States and operates a large-scale network of pipelines and other infrastructure in the Delaware Basin that, as of June 15, 2024, handled more than 2.0 million bpd of water associated with oil and natural gas production, consisting of 139 produced water handling facilities and approximately 3.4 million bpd of total handling capacity. WaterBridge operates primarily under long-term agreements with E&P companies to provide critical produced water handling throughout the full life cycle of its customers’ oil and natural gas wells. These relationships provide our shared management team visibility into key areas of oil and natural gas production and long-term trends, which we leverage to encourage and support the development of critical infrastructure on our land and generate additional revenue for us. Five Point and our management team formed LandBridge to acquire, manage and expand a strategic land position in the heart of the Delaware Basin to support the development of WaterBridge’s large-scale produced water handling infrastructure and to actively manage our land and resources to support and encourage broader industrial and commercial development. Since our formation, our management and Five Point have successfully started and expanded businesses that generate new and growing revenues for us by capturing and monetizing commercial activity both on and near our land. Examples of the benefits of these relationships include WaterBridge’s strategic partnership with Devon Energy, which supports the development of significant additional infrastructure on and around our land. We believe that WaterBridge’s future growth will continue to underpin increased revenues for us, into which we have significant visibility and that requires minimal investment by us. Additionally, Five Point formed Desert Environmental to develop non-hazardous oilfield reclamation and solid waste facilities on our land. We believe Desert Environmental will provide a responsible waste disposal solution to those operating on or near our surface and generate additional revenues for us that otherwise would have gone to other landowners. In addition to our relationships with WaterBridge and Desert Environmental, we have actively grown third-party revenues. We utilize a collaborative commercial approach with a diversified customer base to provide availability, timing and consistent terms for our customers’ development activities on our land. As a landowner, we benefit from these activities by charging fees and royalties based on our customers’ usage of our land and resources. Furthermore, the cost of development on our land is primarily borne by our customers, allowing us to benefit from their growth on our land while deploying minimal capital of our own. In furtherance of our strategy, we and WaterBridge entered into agreements with Texas Pacific Land Company (“TPL”), one of the largest landowners in Texas, to provide reciprocal crossing rights and produced water royalty and revenue sharing across an area of mutual interest that provides our customers (including WaterBridge) with greater development efficiency and enables them to increase their operations on our land. We generate multiple revenue streams from the use of our surface acreage, the sale of resources from our land and oil and gas royalties. • Surface Use Royalties and Revenues: We receive fees from our customers for the use of our surface acreage for their business operations, which currently include oil and natural gas development and production, produced water transportation and handling, pipeline and electrical infrastructure, a commercial fuel distribution facility and other commercial and industrial activities, including non-hazardous oilfield reclamation and solid waste facilities. This revenue stream will also include revenues generated from two solar facilities currently being developed on our land. • Resource Sales and Royalties: We receive fees from the sale of resources from our land, including sales of brackish water utilized in connection with oil and natural gas well completions, and royalties from sand extracted from our land for oil and natural gas operations. These resources are used by our customers in their projects on and around our land and elsewhere throughout the Delaware Basin. • Oil and Gas Royalties: We receive a share of recurring revenues from the production of oil and natural gas on our 4,180 gross mineral acres through our ownership of mineral interests, of which approximately 96% underlie our surface acreage. Other than our gross mineral acres, we do not own the mineral interests that underlie our surface acreage. Our principal executive offices are located at 5555 San Felipe Street, Suite 1200, Houston, Texas.
AI Analysis | Feedback
LandBridge is like a Texas Pacific Land Company (TPL) specifically focused on owning and monetizing vast surface acreage in the high-activity Delaware Basin, earning revenue from surface leases, resource sales, and oil & gas royalties for energy and industrial development.
Alternatively, LandBridge can be compared to a cell tower REIT such as American Tower or Crown Castle, but instead of leasing out space on towers, it leases out extensive surface land in the Permian Basin for essential energy, water, and other industrial infrastructure.
AI Analysis | Feedback
LandBridge (LB) provides the following major services and products:
- Surface Land Leasing: The company generates revenue by leasing its surface acreage for a variety of industrial and commercial uses, including oil and natural gas development, midstream infrastructure, renewable energy projects, and waste management facilities.
- Resource Sales: LandBridge sells brackish water and receives royalties from sand extracted from its land, both used primarily to support oil and natural gas operations in the Delaware Basin.
- Mineral Rights Royalties: The company collects a share of revenues from the production of oil and natural gas on its owned mineral acres.
AI Analysis | Feedback
LandBridge (LB) primarily sells its services and resources to other companies. Based on the provided description, its major customers include:
- WaterBridge
- Devon Energy (Symbol: DVN)
- Desert Environmental
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Jason Long - Chief Executive Officer and Director
Mr. Long has approximately 20 years of entrepreneurial and operating experience in oil and natural gas, including founding produced water businesses in the Delaware Basin such as EnWater Solutions LLC and Pelagic Water Systems LLC. He led the funding, construction, and commercialization of a produced water-gathering and disposal system. Mr. Long also serves as the Chief Executive Officer of WaterBridge.
Scott L. McNeely - Executive Vice President and Chief Financial Officer
Mr. McNeely joined LandBridge in September 2021 as Vice President, Finance. He also serves as Executive Vice President and Chief Financial Officer of WaterBridge. Prior to WaterBridge, he was an Investment Banking Senior Associate at Citigroup and previously served in various roles within the intelligence community, including for CACI International Inc.
Harrison Bolling - Executive Vice President and General Counsel
Mr. Bolling has over 15 years of experience advising energy clients, specializing in mergers and acquisitions, midstream commercial agreements, and surface land transactions. He has served as General Counsel of LandBridge since October 2021 and joined WaterBridge as General Counsel in 2018. Earlier in his career, he was assistant general counsel at PennTex Midstream Partners LP and practiced at Bracewell LLP.
Jason Williams - Executive Vice President and Chief Administrative Officer
Mr. Williams has more than 16 years of accounting and finance leadership experience in the oil and gas industry. Before LandBridge, he spent nine years at BHP in various North America and global leadership roles, focusing on asset acquisition and integration, financial and production systems, organizational transformation, and operational finance and accounting.
AI Analysis | Feedback
The key risks to LandBridge's business operations include:
- Dependence on Oil and Natural Gas Industry Activity: A substantial portion of LandBridge's revenue streams, including surface use royalties, resource sales (like brackish water and sand), and direct oil and gas royalties, are directly tied to the level of exploration, development, and production activity in the Delaware Basin. A sustained downturn in commodity prices, reduced drilling and completion activity, or adverse regulatory changes impacting the oil and natural gas industry could significantly diminish demand for LandBridge’s services and resources, thereby materially impacting its financial performance. The company's strategy is heavily reliant on supporting and encouraging oil and natural gas development and its associated infrastructure.
- Geographic Concentration Risk: LandBridge's entire asset base, comprising approximately 220,000 surface acres and 4,180 gross mineral acres, is concentrated within the Delaware sub-basin of the Permian Basin. While this region is highlighted as prolific and active, this geographic concentration exposes the company to specific risks associated with that area. These risks could include localized adverse weather events, region-specific regulatory changes, environmental issues unique to the Delaware Basin, or an economic downturn that disproportionately affects this particular area, all of which could have a concentrated negative impact on LandBridge's operations and revenues.
- Reliance on Strategic Partners and Related Entities: LandBridge has significant ties to WaterBridge and Desert Environmental, both formed by its shared financial sponsor, Five Point. The background explicitly states that WaterBridge’s future growth is expected to "underpin increased revenues" for LandBridge. While these relationships offer strategic advantages and visibility into production trends, they also create a degree of reliance. Any operational, financial, or market challenges faced by WaterBridge, Desert Environmental, or other key partners could directly and negatively affect LandBridge's revenue streams, growth prospects, and overall business stability.
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AI Analysis | Feedback
LandBridge (LB) participates in several significant addressable markets related to its land and resource management in the Permian Basin. These markets include:
- Produced Water Transportation and Handling: The Permian Basin midstream water market, which includes the supply, transport, storage, treatment, and disposal of water, is projected to reach a total of US$101.8 billion between 2025 and 2030. This represents nearly two-thirds of the overall U.S. midstream water market. (Region: Permian Basin, United States)
- Non-Hazardous Oilfield Reclamation and Solid Waste Facilities (Drilling Waste Management): The North America drilling waste management market was valued at approximately USD 1.9 billion in 2024 and is estimated to grow to USD 4.4 billion by 2034. This market includes the collection, treatment, and disposal of waste generated during drilling operations. (Region: North America, which includes the Permian Basin)
- Sand Sales (Frac Sand): The global frac sand market was valued at around USD 7.6 billion in 2023. The Permian Basin consistently accounts for a substantial portion of this market, representing just over half of the total U.S. proppant demand. North America dominated the global frac sand market with a revenue share exceeding 55.0% in 2024. (Region: Global, with significant demand from the Permian Basin, United States)
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Expected Drivers of Future Revenue Growth for LandBridge (LB)
LandBridge (LB) is positioned for future revenue growth over the next 2-3 years, driven by its strategic land management in the Permian Basin and expansion into new commercial activities. Key drivers include:
- Expansion and Increased Utilization of Produced Water Infrastructure: LandBridge anticipates significant revenue contributions from the growth of its shared management team's water midstream company, WaterBridge. Specifically, the Speedway Pipeline is expected to come online mid-year 2026, and increased volumes from BPX Kraken will further boost produced water royalties, a key revenue stream.
- Commercialization of Expanded Land Footprint: The company's active land management strategy focuses on increasing the monetization of its extensive acreage. This includes the commercialization of recently acquired land, such as the 1918 Ranch acquisition which is projected to add approximately $20 million in yearly EBITDA in 2026. LandBridge also aims to improve its Surface Use Economic Efficiency (SUEE) across its more than 315,000 acres by securing new easements and development agreements.
- Development of Digital Infrastructure and Renewable Energy Projects: LandBridge is strategically leveraging its land for high-growth industrial developments beyond traditional energy. This includes securing agreements for battery energy storage systems, such as the 350 MW capacity projects with Samsung expected to be operational by late 2028, and exploring opportunities for natural gas processing facilities and gigawatt-scale power generation facilities for data centers.
- Increased Surface Use Royalties and Resource Sales: Ongoing growth in surface use royalties and revenues is expected from various commercial and industrial activities on LandBridge's land, including oil and natural gas development, pipeline and electrical infrastructure, and non-hazardous oilfield waste facilities. Additionally, increased sales of resources like brackish water, particularly from newly acquired acreage, and royalties from sand extraction will continue to contribute to revenue growth.
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Capital Allocation Decisions for LandBridge (LB)
Share Repurchases
- LandBridge's board approved a $50.0 million share repurchase program on February 25, 2026. This authorization allows the company to buy back up to 1% of its outstanding Class A shares over a two-year period, through year-end 2027.
Share Issuance
- On July 1, 2024, LandBridge completed its initial public offering (IPO), issuing 14,500,000 Class A shares at $17.00 per share, raising approximately $246.5 million.
- The underwriters fully exercised their option to purchase an additional 2,175,000 Class A shares, contributing to a total of approximately $270.9 million raised from the IPO.
- Concurrently with the IPO on July 1, 2024, LandBridge also sold 750,000 Class A shares at $17.00 per share in a private placement to an accredited investor.
Inbound Investments
- LandBridge was formed on September 27, 2023, by WaterBridge NDB LLC, with Five Point Energy serving as a financial sponsor.
Outbound Investments
- In 2025, LandBridge's subsidiary, DBR Land Holdings LLC, agreed to acquire approximately 37,500 acres and related assets for an aggregate purchase price of $250.0 million, which included approximately $208.3 million in cash and $41.7 million in OpCo units and Class B shares.
- LandBridge made significant land acquisitions in 2024 and 2025, expanding its acreage positions in the Stateline, Northern, and Southern areas of the Delaware Basin.
- Acquisitions for the fiscal year ended December 31, 2025, amounted to $229.0 million in investing outflows.
Capital Expenditures
- Capital expenditures for the fiscal year ended December 31, 2025, were minimal, totaling $4.2 million, reflecting the company's asset-light model where customers primarily bear the cost of infrastructure development.
- In the fourth quarter of 2025, capital expenditures were $1.7 million.
- For the first quarter of 2025, capital expenditures amounted to $0.1 million.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 12262025 | TPL | Texas Pacific Land | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 82.3% | 82.3% | -2.1% |
| 12122025 | NOV | NOV | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 23.6% | 23.6% | -6.5% |
| 12122025 | RIG | Transocean | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 56.9% | 56.9% | -7.0% |
| 11212025 | WHD | Cactus | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 31.6% | 31.6% | 0.0% |
| 10172025 | OVV | Ovintiv | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 41.7% | 41.7% | 0.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 43.82 |
| Mkt Cap | 4.3 |
| Rev LTM | 863 |
| Op Inc LTM | 475 |
| FCF LTM | 122 |
| FCF 3Y Avg | 80 |
| CFO LTM | 546 |
| CFO 3Y Avg | 485 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 62.1% |
| Rev Chg 3Y Avg | 14.4% |
| Rev Chg Q | 72.5% |
| QoQ Delta Rev Chg LTM | 14.3% |
| Op Mgn LTM | 52.3% |
| Op Mgn 3Y Avg | 61.5% |
| QoQ Delta Op Mgn LTM | -0.6% |
| CFO/Rev LTM | 63.4% |
| CFO/Rev 3Y Avg | 65.9% |
| FCF/Rev LTM | 18.4% |
| FCF/Rev 3Y Avg | 24.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.3 |
| P/S | 4.8 |
| P/EBIT | 15.4 |
| P/E | 29.6 |
| P/CFO | 9.3 |
| Total Yield | 2.7% |
| Dividend Yield | 1.9% |
| FCF Yield 3Y Avg | 0.4% |
| D/E | 0.3 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.9% |
| 3M Rtn | 32.9% |
| 6M Rtn | 21.3% |
| 12M Rtn | 7.8% |
| 3Y Rtn | 104.4% |
| 1M Excs Rtn | 9.2% |
| 3M Excs Rtn | 39.1% |
| 6M Excs Rtn | 26.8% |
| 12M Excs Rtn | -5.5% |
| 3Y Excs Rtn | 46.6% |
Price Behavior
Price Behavior
| Market Price | $72.02 | |
| Market Cap ($ Bil) | 1.8 | |
| First Trading Date | 06/28/2024 | |
| Distance from 52W High | -15.5% | |
| 50 Days | 200 Days | |
| DMA Price | $65.78 | $57.95 |
| DMA Trend | down | up |
| Distance from DMA | 9.5% | 24.3% |
| 3M | 1YR | |
| Volatility | 63.9% | 64.2% |
| Downside Capture | -0.50 | 1.15 |
| Upside Capture | 97.81 | 130.96 |
| Correlation (SPY) | 11.0% | 42.5% |
LB Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.54 | 0.86 | 0.81 | 1.70 | 1.60 | -0.00 |
| Up Beta | 0.66 | 0.55 | 0.47 | 0.69 | 1.33 | -0.66 |
| Down Beta | 5.44 | 4.76 | 2.73 | 3.51 | 2.01 | 0.08 |
| Up Capture | 77% | 74% | 92% | 180% | 213% | 141% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 11 | 22 | 27 | 63 | 124 | 221 |
| Down Capture | -307% | -312% | -94% | 85% | 133% | 96% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 10 | 19 | 34 | 61 | 125 | 194 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LB | |
|---|---|---|---|---|
| LB | -7.7% | 64.1% | 0.13 | - |
| Sector ETF (XLE) | 37.0% | 24.9% | 1.22 | 49.0% |
| Equity (SPY) | 14.5% | 18.9% | 0.59 | 42.5% |
| Gold (GLD) | 50.2% | 27.7% | 1.46 | 12.9% |
| Commodities (DBC) | 17.8% | 17.6% | 0.85 | 34.2% |
| Real Estate (VNQ) | 0.4% | 16.4% | -0.15 | 40.7% |
| Bitcoin (BTCUSD) | -21.0% | 44.0% | -0.41 | 18.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LB | |
|---|---|---|---|---|
| LB | 25.7% | 69.4% | 1.24 | - |
| Sector ETF (XLE) | 25.3% | 26.1% | 0.86 | 41.3% |
| Equity (SPY) | 11.8% | 17.0% | 0.54 | 38.2% |
| Gold (GLD) | 20.7% | 17.7% | 0.96 | 15.9% |
| Commodities (DBC) | 11.6% | 18.9% | 0.50 | 29.7% |
| Real Estate (VNQ) | 3.0% | 18.8% | 0.07 | 32.4% |
| Bitcoin (BTCUSD) | 4.7% | 56.6% | 0.30 | 14.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LB | |
|---|---|---|---|---|
| LB | 12.1% | 69.4% | 1.24 | - |
| Sector ETF (XLE) | 11.4% | 29.4% | 0.42 | 41.3% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 38.2% |
| Gold (GLD) | 13.3% | 15.8% | 0.70 | 15.9% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 29.7% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 32.4% |
| Bitcoin (BTCUSD) | 66.9% | 66.8% | 1.06 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/25/2026 | 13.7% | 13.8% | 11.3% |
| 11/12/2025 | -10.3% | -20.7% | -35.7% |
| 8/7/2025 | 1.4% | 5.5% | 0.9% |
| 3/5/2025 | -5.9% | 5.8% | 1.5% |
| 11/7/2024 | 10.0% | -4.5% | -9.1% |
| 8/7/2024 | -0.5% | 4.5% | 7.7% |
| SUMMARY STATS | |||
| # Positive | 3 | 4 | 4 |
| # Negative | 3 | 2 | 2 |
| Median Positive | 10.0% | 5.7% | 4.6% |
| Median Negative | -5.9% | -12.6% | -22.4% |
| Max Positive | 13.7% | 13.8% | 11.3% |
| Max Negative | -10.3% | -20.7% | -35.7% |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Five, Point Energy Fund Ii Aiv-Vii Lp | See Footnotes | Sell | 11202025 | 70.00 | 2,500,000 | Form | |||
| 2 | Landbridge, Holdings Llc | Direct | Sell | 11202025 | 70.00 | 2,500,000 | Form | |||
| 3 | Capobianco, David N | See Footnote | Sell | 11202025 | 70.00 | 2,500,000 | Form | |||
| 4 | Landbridge, Holdings Llc | Direct | Sell | 5282025 | 75.25 | 1,900,000 | Form | |||
| 5 | Capobianco, David N | See Footnote | Sell | 5282025 | 75.25 | 1,900,000 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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