LB LB LandBridge Company LLC Loading... : Investor Sentiment and Bull/Bear Views

Boyer holds LandBridge. It is a Texas land/royalty company with oil exposure but also water/land rights tied to Texas data centers, and expected Amazon/Meta contracts could add to high-margin earnings. It runs with about 30 employees and about 99% gross margins, and trades around 20-25x PE versus TPL near 50x and its own historical 35x, giving multiple-expansion room. Private-equity ownership and low float are risks.

LandBridge owns surface rights and pore space across the Permian and earns royalty-like revenue from produced water, source water, and surface use. Chad thinks the market is underappreciating the growth: it has over 7.5M bbl/day of incremental pore space, management sees 5M bbl/day added over five years at 15 cents/bbl with no incremental expense, potentially driving 25%-35% FCF CAGR. It trades around 20-22x EBITDA versus TPL at 28-31x, active land management has lifted acquired FCF (2024 acquisitions +150% in 2025), and data centers are a free option; fair value could be triple digits if TPL-like multiples are applied.

Darrell Thomas owns LandBridge as a land-royalty company that leases land to oil companies, earning landlord-style income. He sees it as a lower-risk way than producers to benefit from oil in the US-Iran conflict.