Owns nearly 880,000 acres of West Texas land and collects royalties from oil, gas, and water extraction on it, plus sells easements and leases for pipelines and facilities.
Money comes from royalties, leases, and water services to energy operators in the Permian Basin. Revenue hit USD 0.80B in 2025 with a 60.31% net margin — high-margin, largely recurring income tied to drilling activity.
Perpetual royalty interests on massive land holdings create a unique, low-cost asset base that competitors like Diamondback Energy or Occidental Petroleum can't replicate because they must lease or buy land. Moat is solid, not actively weakening.
Hold (sector percentile 39) — value D, growth C+, profitability A+, momentum D. Updated daily, sector-relative, identical for every user.
Key events, in time order
Earnings beat but stock fell; GF Value below price
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