Texas Pacific Land CorporationNYSE: TPL
Energy · Oil & Gas Exploration & Production
$355.29
+0.23%
Vol: 343K
Research Digest
Friday, June 19, 2026
Texas Pacific Land CFO sold $1.6M in shares under a 10b5-1 plan in early June; KeyBanc reiterates Overweight with $639 price target.
Texas Pacific Land Corp CFO Chris Steddum sold $1,601,064 of common stock on June 5–8, 2026, at prices of $400.21–$401.18 per share, under a Rule 10b5-1 plan adopted March 5, 2026 — a pre-scheduled sale rather than a discretionary signal. Horizon Kinetics, a major institutional shareholder, purchased 1 additional share on June 3 at $406.72, a symbolic addition. KeyBanc reiterated its Overweight rating and $639 price target following a company-hosted investor event in Midland, Texas. TPL's Q1 2026 results beat estimates with EPS of $2.07 vs. $1.95 expected and revenue of $236.8M. The stock has returned 31.8% over the past six months, outpacing the S&P 500 by 21 percentage points. Risk: CFO insider sales, even pre-planned, can unsettle retail investors; valuation premium requires continued Permian royalty growth.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Texas Pacific Land appointed Horizon Kinetics' Peter Doyle to board and hosted May 18 investor dayPositive▶
Texas Pacific Land Corporation on May 6, 2026 reported record Q1 revenue of $236.8M and net income of $142.9M ($2.07 EPS) driven by higher oil/gas royalty revenue and water-related income. The company entered a board representative agreement with Horizon Kinetics (its largest shareholder), appointing Peter Doyle to the board and strategic acquisitions committee. TPL hosted an Investor Day in Midland on May 18 showcasing water operations and surface estate strategy, with progress on a 10,000 bpd produced water desalination R&D facility. The company also advanced its data center/power-generation strategy through a $42.5M land transaction. TPL maintained a $0.60 per-share dividend. Risk: stock up 26.5% over three months but valuation concerns persist given GF Score 99/100.
May 20Texas Pacific Land posts record Q1 revenue with $42.5M data center land deal and adds Horizon Kinetics CEO to boardPositive▶
Texas Pacific Land Corporation delivered record Q1 2026 revenue of $236.8M and net income of $142.9M ($2.07 diluted EPS) on May 7, 2026, with Adjusted EBITDA of $181.4M (77% margin) and free cash flow of $136.4M. The company executed a key strategic land deal selling land for $42.5M to a developer of a power generation plant supporting data center operations, immediately recognizing $20.9M in revenue. The Board appointed Peter Doyle, co-founder and co-CEO of Horizon Kinetics (TPL's largest shareholder), to the Board and the strategic acquisitions committee effective May 6. Quarterly cash dividend of $0.60 per share declared May 5, payable June 15. Hosted an in-person Midland, TX shareholder office and water field visit May 18. Progress on a 10,000 bpd produced water desalination R&D facility. Stock up 26.5% over three months to $386.61.
May 19Texas Pacific Land invites shareholders to in-person Midland office and water field visit on May 18, 2026, following Q1 record revenue.Positive▶
On May 18, 2026, Texas Pacific Land hosted an in-person shareholder event in Midland, Texas, with an office visit and Midland Yard water field tour, continuing its outreach push after appointing Horizon Kinetics co-founder Peter Doyle to the board on May 6. Q1 2026 results released May 6 showed record revenue of $236.8 million and net income of $142.9 million ($2.07 diluted EPS) driven by higher oil and gas royalty revenue, $20.9 million in land sales, and growing water income. The company advanced its data center and power-generation strategy via a $42.5 million land transaction and water supply deal, and is testing a 10,000 bpd produced water desalination facility in Orla. Adjusted EBITDA was $181.4 million and the quarterly dividend stands at $0.60. TPL stock is up 34.1% YTD versus the S&P 500's 8.2%. The activist-friendly board agreement reduces governance overhang while validating Horizon's long-term thesis.
May 18Texas Pacific Land posted record Q1 revenue of $236.8M, declared a $0.60 dividend, and appointed Horizon Kinetics' Peter Doyle to board; KeyBanc raised PT to $639 (Overweight).Positive▶
Texas Pacific Land reported record Q1 2026 revenue of $236.8M (+20.8% YoY) and net income of $142.9M, with GAAP EPS of $2.07 beating consensus by 2.5%, though revenue missed expectations. The company entered a board representative agreement with largest shareholder Horizon Kinetics, appointing Peter Doyle to the board and strategic acquisitions committee. TPL advanced its data center strategy via a $42.5M land transaction and water supply deal supporting data center power generation, plus a 10,000-bpd produced water desalination test facility in Orla, TX. The board declared a $0.60 quarterly dividend payable June 15 and set 2026 annual meeting for November 5. KeyBanc raised its price target to $639 from $350 with an Overweight rating. Shares fell 3.7% to $386.51 on May 13.
May 15Texas Pacific Land shares fall 3.7% to $386.51 on May 13 as Q1 EBITDA miss outweighs record revenue and data center dealMixed▶
Texas Pacific Land shares dropped 3.7% on May 13 to close at $386.51 as investors digested mixed Q1 2026 results announced May 6. Revenue rose 20.8% YoY to record $236.8M and EPS of $2.07 beat the $2.02 consensus, but adjusted EBITDA of $181.4M missed by 11.1%. The company also disclosed a financing-style $42.5M land sale to a data center power developer, recognizing $20.9M of revenue, plus a separate water supply agreement. On May 5, TPL appointed Peter Doyle (Horizon Kinetics co-CEO) to its board following the April passing of long-time director Murray Stahl. The 10,000 bpd produced-water desalination R&D facility in Orla, Texas is near completion.
May 14Texas Pacific Land shares fell 3.7% to $386.51 on May 13 after Q1 record revenue of $236.8M missed estimates and EBITDA missed by 11%Mixed▶
TPL reported Q1 2026 record revenue of $236.8M (up 20.8% YoY) and net income of $142.9M, but missed top-line consensus and adjusted EBITDA of $181.4M missed by 11.1%. GAAP EPS of $2.07 beat estimates by 2.5%. The company entered a board agreement with largest shareholder Horizon Kinetics, appointing Peter Doyle to the board. TPL also announced a strategic deal with Bolt Data & Energy for large-scale data center campuses on TPL land in West Texas, including a $50M investment and water supply rights. Quarterly dividend of $0.60 payable June 15.
May 13Texas Pacific Land posted record Q1 2026 revenue $236.8M and added Horizon Kinetics co-CEO Peter Doyle to board on May 5.Positive▶
Texas Pacific Land reported record Q1 2026 results on May 6 with revenue of $236.8M, net income of $142.9M, and EPS of $2.07 (vs. $2.02 consensus), supported by strong royalty, land sale and water revenues with EBITDA margin near 77%. The board added Peter Doyle, co-founder/co-CEO of top shareholder Horizon Kinetics, to its board on May 5. TPL entered a landmark $42.5M land-sale arrangement with a developer of a power generation plant for data center operations, recognizing $20.9M of land-sale revenue immediately. The board declared a $0.60 quarterly cash dividend payable June 15. Stock has gained 26.5% over three months.
May 12Texas Pacific Land reported record Q1 2026 revenue of $236.8M with 77% EBITDA margin and added Horizon Kinetics designee Peter Doyle to its board, though shares fell 5% on a mixed adjusted EBITDA miss.Mixed▶
TPL posted Q1 2026 revenue of $236.8 million (up 20.8% YoY) and GAAP EPS of $2.07, beating consensus by 2.5%, while adjusted EBITDA of $181.4 million missed estimates by 11.1%. The board declared a $0.60 quarterly dividend payable June 15. The company entered a board representation agreement with largest shareholder Horizon Kinetics, appointing Peter Doyle to the board and strategic acquisitions committee. Strategic initiatives include a $42.5M land transaction with a water supply deal supporting a data-center power plant and a partnership with Bolt Data & Energy involving a $50M TPL investment. Risk: shares fell 5% after the print on EBITDA disappointment.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| TPLTEXAS | $355.29 | +0.23% | -11.8% | 4.9x | 0.61 | $24.5B |
| COPCONOCOPHILLIPS | $107.75 | -3.11% | -11.9% | 11.7x | 0.11 | $131.3B |
| EOGEOG | $130.14 | -2.33% | -8.2% | 8.8x | 0.26 | $69.2B |
| FANGDIAMONDBACK | $183.05 | -1.31% | -10.2% | 10.4x | 0.39 | $51.6B |
| OXYOCCIDENTAL | $51.64 | -2.64% | -12.0% | 12.8x | 0.12 | $51.5B |
| DVNDEVON | $42.17 | -0.96% | -13.1% | 7.8x | 0.42 | $48.6B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.