Texas Pacific Land Corporation (TPL)

TPL completed a three-for-one stock split effective December 22, 2025, reducing the per-share price. In December 2025, TPL partnered with Bolt Data & Energy to develop AI data center campuses, investing $50 million. Horizon Kinetics Asset Management LLC purchased additional shares in January 2026 and December 2025. TPL's stock has experienced a decline over the past year. TPL announced record second-quarter results in August 2025, with record oil and gas royalty production and record revenues for produced water royalties and easements. TPL announced its third-quarter results on November 5, 2025. In October 2025, Texas Pacific Land Corporation completed its inaugural $500 million credit facility.

The demand for Texas Pacific Land Corporation's products and services is substantially dependent on the demand and expenditures by its customers for the exploration, development, and production of oil and natural gas reserves. These expenditures are generally influenced by customers' overall financial position, capital allocation priorities, and their outlook on future oil and natural gas prices. Demand is more closely tied to the cyclical nature of the oil and gas industry and broader economic factors influencing energy prices and exploration activity.

Texas Pacific Land Corporation is a publicly traded real estate operating company based in Dallas, Texas, and one of the largest private landowners in Texas. It holds approximately 873,000 to 882,000 acres across 20 to 22 West Texas counties and southern New Mexico, primarily in the Permian Basin. TPL operates in the Energy and Real Estate sectors, focusing on Oil & Gas Exploration & Production. The company generates revenue through Land and Resource Management, and Water Services and Operations. TPL earns revenue from oil and gas royalties on its lands. Through Texas Pacific Water Resources, LLC, TPL provides water services to operators in the Permian Basin, including sourcing, treatment, disposal, recycling, and infrastructure development. The company also engages in land sales and leases. TPL generates revenue by granting easements for pipelines, power lines, and other infrastructure projects, as well as subsurface wellbore easements. This includes the sale of materials such as caliche and sand. TPL has begun exploring opportunities for solar and wind energy projects on its land.

Texas Pacific Land Corporation's geographic footprint is primarily concentrated in West Texas and southern New Mexico. The company owns approximately 873,000 to 882,000 acres of land, comprised of numerous separate tracts, located in 20 to 22 counties in West Texas and southern New Mexico. Its holdings are predominantly in the Permian Basin.

Texas Pacific Land Corporation has a strong reputation due to its unique business model and financial profile. The company is recognized for its irreplaceable land assets and subsurface mineral rights. It is known for being a highly profitable energy royalty company with high margins and a strong financial position with no debt and robust free cash flow generation. The company has made strategic moves that could positively impact its reputation, such as the partnership with Bolt Data & Energy to develop AI data center campuses. Its conversion from a statutory trust to a corporation in 2021 streamlined governance and expanded strategic flexibility.

Approximately 68.09% of the company's stock is owned by Institutional Investors, 11.98% by Insiders, and 19.93% by Public Companies and Individual Investors. Major institutional owners include Horizon Kinetics Asset Management Llc, Vanguard Group Inc, BlackRock, Inc., State Street Corp, Geode Capital Management, Llc, SoftVest Advisors, LLC, KINETICS PORTFOLIOS TRUST - Kinetics Paradigm Portfolio, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor Shares and XLE - The Energy Select Sector SPDR Fund.