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Texas Pacific Land/$TPL

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About Texas Pacific Land

Texas Pacific Land Corp is mainly engaged in the sales and leases of land owned, retaining oil and gas royalties, and the overall management of the land owned. The group operates its business in two reportable segments: Land and Resource Management and Water Service and Operations. The Land and Resource Management segment, which generates maximum revenue, focuses on managing its several surface acres of land and its oil and gas royalty interests, principally concentrated in the Permian Basin. The revenue streams of this segment consist of royalties from oil and gas, revenues from easements and commercial leases, and land and material sales. The Water Services and Operations segment encompasses the business of providing a full-service water offering to operators in the Permian Basin.
Ticker
$TPL
Sector
Energy
Primary listing
NYSE
Employees
114

TPL Metrics

BasicAdvanced
$19B
33.07
$8.51
0.58
$2.33
0.85%

What the Analysts think about TPL

Analyst ratings (Buy, Hold, Sell) for Texas Pacific Land stock.
Analyst projections of the future price of Texas Pacific Land stock.

Bulls say / Bears say

TPL’s core royalty engine is expanding: second-quarter oil and gas production reached a record 39,700 barrels of oil equivalent per day, up 20% year on year, and the company reported record quarterly revenue and free cash flow. Its high-margin, asset-light model lets it benefit from operators’ production without funding their wells. (Texas Pacific Land Corporation)
Produced-water royalties are becoming a stronger source of growth alongside oil and gas: second-quarter volumes rose 15% year on year to a record 4.9 million barrels per day, while royalties revenue increased to $37.1 million. The growth offers some diversification from oil prices and adds value from TPL’s water rights and infrastructure. (Texas Pacific Land Corporation)
TPL has begun to turn its data-centre ambitions into a commercial opportunity: under its Project Kilby agreement, it supplied land and secured the exclusive right to source aquifer water for Chevron’s power project supporting a customer data centre. If similar projects advance, land and water could generate revenue beyond oilfield activity. (Texas Pacific Land Corporation)
TPL is unhedged, so lower oil and gas prices can quickly reduce royalty income; weaker prices may also lead third-party operators to cut drilling, further limiting future volumes. The company itself says revenue depends on commodity prices and its customers’ development and operating decisions. (Zacks Investment Research, Texas Pacific Land Corporation)
Water sales weakened in the second quarter: volumes fell 19% sequentially and revenue dropped from $46.9 million to $39.7 million as weak local gas prices shifted some operator activity away from the Delaware Basin. That shows this part of the business remains exposed to changing drilling patterns, even as produced-water royalties grow. (Texas Pacific Land Corporation, Zacks Investment Research)
The shares still carry a demanding valuation after their recent pullback: TPL trades at 34.76 times forward earnings, above its five-year median of 29.17 times and the sub-industry multiple of 21.33 times. That premium leaves less room for weaker commodity prices, softer activity or slower progress on new projects. (Zacks Investment Research)
Data summarised monthly by Lightyear AI. Last updated on 4 Nov 2026.

TPL Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

TPL Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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