LandBridge Company LLC (LB) reported second-quarter 2026 revenue of $66.8 million, up 41% from a year earlier and 31% from the prior quarter. Net income was $31.0 million, up 68% year over year and 74% sequentially.
The company declared a quarterly cash dividend of $0.12 per share and reaffirmed its 2026 outlook for Adjusted EBITDA of $210 million to $230 million. LandBridge also said its board approved a conversion and redomicile from a Delaware limited liability company to a Texas corporation.
- Second-quarter revenue was $66.8 million, compared with $51.0 million in the first quarter of 2026 and $47.5 million in the second quarter of 2025.
- Second-quarter net income was $31.0 million, compared with $17.9 million in the first quarter and $18.5 million a year earlier.
- Adjusted EBITDA was $59.8 million, while cash flow from operating activities was $41.4 million.
- The dividend of $0.12 per share is payable Sept. 10, 2026, to shareholders of record as of Aug. 27, 2026.
- Total liquidity was $269.8 million as of June 30, 2026, including about $230.0 million of available borrowing capacity.
- LandBridge agreed to acquire about 560 acres underlying the Northern Delaware Basin Landfill in Lea County, New Mexico, for $20 million.
$LB Insider Trading Activity
$LB insiders have traded $LB stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $LB stock by insiders over the last 6 months:
- CHARLES L. WATSON has made 0 purchases and 3 sales selling 53,350 shares for an estimated $3,974,475.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$LB Hedge Fund Activity
We have seen 116 institutional investors add shares of $LB stock to their portfolio, and 56 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MORGAN STANLEY removed 3,419,165 shares (-69.9%) from their portfolio in Q1 2026, for an estimated $236,093,343
- FMR LLC added 521,080 shares (+64.0%) to their portfolio in Q1 2026, for an estimated $35,980,574
- TWO SIGMA INVESTMENTS, LP added 501,431 shares (+1138.4%) to their portfolio in Q1 2026, for an estimated $34,623,810
- MARSHALL WACE, LLP added 419,556 shares (+294.4%) to their portfolio in Q1 2026, for an estimated $28,970,341
- UBS GROUP AG added 358,318 shares (+130.4%) to their portfolio in Q1 2026, for an estimated $24,741,857
- ASHFORD CAPITAL MANAGEMENT INC added 248,540 shares (+inf%) to their portfolio in Q1 2026, for an estimated $17,161,687
- FIRST MANHATTAN CO. LLC. added 195,289 shares (+2.8%) to their portfolio in Q1 2026, for an estimated $13,484,705
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
