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Texas Pacific Land Corp Stock Research

TPL

1659.36USD+65.53(+4.11%)Market Closed

Market Summary

USD1659.36+65.53
Market Closed
4.11%

TPL Alerts

TPL Stock Price

TPL RSI Chart

TPL Valuation

Market Cap

12.8B

Price/Earnings (Trailing)

28.61

Price/Sales (Trailing)

19.13

EV/EBITDA

20.98

Price/Free Cashflow

29.69

TPL Price/Sales (Trailing)

TPL Profitability

EBT Margin

85.23%

Return on Equity

57.75%

Return on Assets

50.87%

Free Cashflow Yield

3.37%

TPL Fundamentals

TPL Revenue

Revenue (TTM)

667.4M

Revenue Y/Y

3.76%

Revenue Q/Q

-20.1%

TPL Earnings

Earnings (TTM)

446.4M

Earnings Y/Y

26.17%

Earnings Q/Q

-23.19%

Price Action

52 Week Range

1232.942739.00
(Low)(High)

Last 7 days

-10.2%

Last 30 days

-16.1%

Last 90 days

-39.8%

Trailing 12 Months

30.0%

TPL Financial Health

Current Ratio

16

TPL Investor Care

Dividend Yield

1.91%

Dividend/Share (TTM)

31.75

Buy Backs (1Y)

0.63%

Diluted EPS (TTM)

57.77

Financials for Texas Pacific Land

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue0.8%667662594514451
  S&GA Expenses1.5%13.0013.0013.0012.0012.00
Costs and Expenses7.3%10598.0089.0089.0089.00
EBITDA0.2%584583523442-
EBITDA Margin-0.6%0.88*0.88*0.88*0.86*-
Earnings Before Taxes0.5%569566506425363
EBT Margin-0.4%0.85*0.86*0.85*0.83*-
Net Income4.9%446426380318270
Net Income Margin4.0%0.67*0.64*0.64*0.62*-
Free Cahsflow10.8%430388342304-
Balance Sheet
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets5.8%877829765857764
  Current Assets7.5%633589524619527
    Cash Equivalents14.4%511447390507428
  Net PPE4.8%85.0082.0083.0080.0080.00
Liabilities-3.0%105108119129112
  Current Liabilities-9.2%40.0044.0057.0067.0051.00
Shareholder's Equity7.2%773721645728652
  Retained Earnings9.7%866790683742668
  Additional Paid-In Capital51.4%8.005.003.002.000.00
Shares Outstanding-0.2%8.008.008.008.008.00
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations10.3%447405364321265
  Share Based Compensation49.4%8.006.004.002.000.00
Cashflow From Investing-9.2%-21.40-19.60-18.79-18.73-15.00
Cashflow From Financing-8.0%-336-311-285-107-104
  Dividend Payments0.8%24724524487.0085.00
  Buy Backs32.1%88.0066.0042.0020.0020.00

Risks for TPL

What is the probability of a big loss on TPL?

88.5%


Probability that Texas Pacific Land stock will be more than 20% underwater in next one year

71.9%


Probability that Texas Pacific Land stock will be more than 30% underwater in next one year.

42.3%


Probability that Texas Pacific Land stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does TPL drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Texas Pacific Land was unfortunately bought at previous high price.

Drawdowns

Returns for TPL

Cumulative Returns on TPL

40.1%


10-Year Cumulative Returns

41.8%


7-Year Cumulative Returns

26.6%


5-Year Cumulative Returns

56.0%


3-Year Cumulative Returns

What are the long-term rolling returns for TPL?

FIve years rolling returns for Texas Pacific Land.

Annualized Returns

Which funds bought or sold TPL recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-15
B. Riley Wealth Advisors, Inc.
reduced
-1.67
254,538
1,106,540
0.03%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
19.53
3,720,610
10,171,600
0.01%
2023-03-06
Rockefeller Capital Management L.P.
added
40.94
455,000
984,000
-%
2023-03-03
TIAA, FSB
reduced
-9.19
1,913,180
11,585,200
0.05%
2023-03-02
OLIVER LAGORE VANVALIN INVESTMENT GROUP
unchanged
-
344
2,344
-%
2023-03-01
Meixler Investment Management, Ltd.
reduced
-29.81
-101,739
1,275,260
1.27%
2023-02-28
Voya Investment Management LLC
added
0.46
1,371,640
5,588,640
0.01%
2023-02-28
CONTINENTAL INVESTORS SERVICES, INC.
reduced
-1.31
163,957
707,957
2.20%
2023-02-24
National Pension Service
new
-
21,801,300
21,801,300
0.04%
2023-02-21
Empowered Funds, LLC
new
-
2,665,390
2,665,390
0.17%

1–10 of 50

Latest Funds Activity

Are funds buying TPL calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own TPL
No. of Funds

Texas Pacific Land News

Yahoo Finance

Texas Pacific (TPL) Dips More Than Broader Markets: What You ....

Yahoo Finance,
26 hours ago

StreetInsider.com

Form N-CSR SPECIAL OPPORTUNITIES.

StreetInsider.com,
12 days ago

Penny Stocks

Schedule 13G FIlings of Texas Pacific Land

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 09, 2023
vanguard group inc
8.20%
631,365
SC 13G/A
Jan 27, 2023
horizon kinetics asset management llc
18.56%
1,429,929
SC 13D/A
Feb 02, 2022
horizon kinetics asset management llc
19.56%
1,515,452
SC 13D/A
Jan 11, 2021
softvest, lp
0%
0
SC 13D/A
Jan 11, 2021
horizon kinetics asset management llc
14.%
0
SC 13D/A
Dec 15, 2020
softvest, lp
1.7%
130,500
SC 13D/A
Dec 14, 2020
horizon kinetics asset management llc
20.92%
1,622,551
SC 13D/A
Oct 16, 2020
horizon kinetics asset management llc
21.1%
1,638,935
SC 13D/A
Jun 15, 2020
horizon kinetics asset management llc
22.1%
1,712,008
SC 13D/A
Jun 15, 2020
softvest, lp
1.7%
130,500
SC 13D/A

TPL Fair Value

Texas Pacific Land fair value in different scenarios

The table shows the Fair Value estimates for Texas Pacific Land for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

1113.06

-32.92%

1699.60

2.43%

2645.57

59.43%

3482.68

109.88%

4172.34

151.44%
Current Inflation

1021.41

-38.45%

1532.39

-7.65%

2336.42

40.80%

3041.06

83.27%

3621.54

118.25%
Very High Inflation

907.85

-45.29%

1329.58

-19.87%

1970.45

18.75%

2525.11

52.17%

2982.29

79.73%

Historical Texas Pacific Land Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Texas Pacific Land

View All Filings
Date Filed Form Type Document
Feb 24, 2023
8-K
Current Report
Feb 22, 2023
10-K
Annual Report
Feb 22, 2023
8-K
Current Report
Feb 16, 2023
4
Insider Trading
Feb 15, 2023
4
Insider Trading
Feb 14, 2023
DEFA14A
DEFA14A
Feb 14, 2023
4
Insider Trading
Feb 14, 2023
4
Insider Trading
Feb 14, 2023
4
Insider Trading
Feb 14, 2023
4
Insider Trading

Latest Insider Trading transactions for TPL

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-02-15
HORIZON KINETICS ASSET MANAGEMENT LLC
bought
22,378
1,864
12.00
-
2023-02-14
STAHL MURRAY
bought
1,895
1,895
1.00
-
2023-02-14
STAHL MURRAY
bought
22,794
1,899
12.00
-
2023-02-14
STAHL MURRAY
bought
5,687
1,895
3.00
-
2023-02-14
STAHL MURRAY
bought
3,791
1,895
2.00
-
2023-02-14
STAHL MURRAY
bought
1,918
1,918
1.00
-
2023-02-13
STAHL MURRAY
bought
3,826
1,913
2.00
-
2023-02-13
STAHL MURRAY
bought
5,739
1,913
3.00
-
2023-02-13
STAHL MURRAY
bought
22,960
1,913
12.00
-

1–10 of 50

Tyler Glover
90
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages approximately 880,000 acres of land. This segment also holds own a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres located in the western part of Texas. In addition, this segment engages in easements and commercial leases activities, such as oil, gas and related hydrocarbons, power line and utility easements, and subsurface wellbore easements. Further, this segment leases its land for processing, storage, and compression facilities and roads; and is involved in sale of materials, such as caliche. Its Water Services and Operations segment provides full-service water offerings, including water sourcing, produced-water gathering/treatment, infrastructure development, disposal solutions, water tracking, analytics, and well testing services to operators in the Permian Basin. This segment also holds royalties for water sourced from its land. Texas Pacific Land Corporation was founded in 1888 and is headquartered in Dallas, Texas.

TPL Income Statement

2022-12-31
CONSOLIDATED STATEMENTS OF INCOME AND TOTAL COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:   
Total revenues$ 667,422$ 450,958$ 302,564
Expenses:   
Salaries and related employee expenses41,40240,01232,173
Water service-related expenses17,46313,23314,233
General and administrative expenses13,35011,7829,751
Legal and professional fees8,7357,28110,778
Ad valorem taxes8,73400
Depreciation, depletion and amortization15,37616,25714,395
Total operating expenses105,11588,56585,303
Operating income562,307362,393217,261
Other income, net6,5486242,401
Income before income taxes568,855363,017219,662
Income tax expense122,49393,03743,613
Net income446,362269,980176,049
Total other comprehensive income (loss)3,5231,686(1,232)
Total comprehensive income$ 449,885$ 271,666$ 174,817
Net income per share of common stock   
Net income per sub-share certificate - basic (in dollars per share)$ 57.80$ 34.83$ 22.70
Net income per sub-share certificate - diluted (in dollars per share)$ 57.77$ 34.83$ 22.70
Weighted average number of shares of common stock outstanding   
Weighted average number of shares of common stock outstanding - basic (in shares)7,721,9577,752,0277,756,156
Weighted average number of shares of common stock outstanding - diluted (in shares)7,726,8097,752,0547,756,156
Dividend paid per common stock (in USD per share) $ 11.00 
Land Sales Expense$ 55$ 0$ 3,973
Current121,23093,26546,002
Deferred (benefit) expense1,263(228)(2,389)
Amortization of net actuarial costs, net of income taxes of $9, $30, and $14 for the years ended December 31, 2022, 2021 and 2020, respectively3211453
Net actuarial gain (loss) on pension plan, net of income taxes of $931, $418, and $(342) as of December 31, 2022, 2021 and 2020, respectively3,4911,572(1,285)
Oil and gas royalties   
Revenues:   
Total revenues452,434286,468137,948
Water sales   
Revenues:   
Total revenues84,72567,76654,862
Produced water royalties   
Revenues:   
Total revenues72,23458,08150,640
Easements and other surface-related income   
Revenues:   
Total revenues48,05737,61641,398
Land sales and other operating revenue   
Revenues:   
Total revenues$ 9,972$ 1,027$ 17,716

TPL Balance Sheet

2022-12-31
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS  
Cash and cash equivalents$ 510,834$ 428,242
Accounts receivable and accrued receivables, net103,98395,217
Prepaid expenses and other current assets7,4273,054
Tax like-kind exchange escrow6,3480
Prepaid income taxes4,8090
Total current assets633,401526,513
Real estate acquired109,704109,071
Property, plant and equipment, net85,47879,722
Royalty interests acquired, net45,02544,390
Operating lease right-of-use assets2,5251,826
Other assets1,2942,542
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:  
Total assets877,427764,064
LIABILITIES AND EQUITY  
Accounts payable and accrued expenses23,89717,907
Accrual for Taxes Other than Income Taxes, Current8,043101
Income taxes payable3,16729,083
Unearned revenue4,4883,809
Total current liabilities39,59550,900
Deferred taxes payable41,15138,948
Unearned revenue - noncurrent21,70820,449
Operating lease liabilities1,9551,445
Accrued liabilities - noncurrent131611
Total liabilities104,540112,353
Commitments and contingencies00
Equity:  
Preferred stock, $0.01 par value; 1,000,000 shares authorized, none outstanding as of December 31, 2022 and 202100
Common stock, $0.01 par value; 7,756,156 shares authorized and 7,695,679 and 7,744,695 outstanding as of December 31, 2022 and 2021, respectively7878
Treasury stock, at cost; 60,477 and 11,461 shares as of December 31, 2022 and 2021, respectively(104,139)(15,417)
Additional paid-in capital8,29328
Accumulated other comprehensive income (loss)2,516(1,007)
Retained earnings866,139668,029
Total equity772,887651,711
Total liabilities and equity877,427764,064
Land (surface rights)  
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:  
Land (surface rights)00
1/16th nonparticipating perpetual royalty interests (1)  
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:  
1/16th nonparticipating perpetual royalty interest00
1/128th nonparticipating perpetual royalty interests (2)  
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:  
1/128th nonparticipating perpetual royalty interest$ 0$ 0