TPL
Texas Pacific Land CorporationEnergy · $22.5B market cap
Verdict
Share price
$340.19
close of Oct 3, 2026
Fair value
$177.19
Sticker Price
Payback Price
$70.87
buy price
TPL is Overpriced: at $340.19 it trades 92% above its fair value of $177.19. Its buy price (Payback Price) is $70.87, 79% below today's price. Business quality is strong: all 5 key numbers clear the 10% bar.
How we valued it
Free Cash Flow. Sales grew 6% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.
Business quality
5 of 5 clear the 10% bar. What are the Big Five?
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Since Jun 12, 2026: 64 open-market purchases worth $26K. Why purchases matter
Purchases
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-09-16
Bought
$352
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-09-10
Bought
$366
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-09-09
Bought
$379
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-09-08
Bought
$375
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-09-04
Bought
$360
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-09-03
Bought
$368
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-09-02
Bought
$363
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-09-01
Bought
$369
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-31
Bought
$369
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-28
Bought
$364
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-27
Bought
$366
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-26
Bought
$375
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-25
Bought
$373
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-24
Bought
$377
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-21
Bought
$382
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-20
Bought
$378
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-19
Bought
$372
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-18
Bought
$361
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-17
Bought
$357
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-14
Bought
$358
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-13
Bought
$343
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-12
Bought
$353
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-11
Bought
$353
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-10
Bought
$345
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-07
Bought
$353
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-06
Bought
$356
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-05
Bought
$386
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-04
Bought
$404
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-08-03
Bought
$393
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-31
Bought
$400
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-30
Bought
$389
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-29
Bought
$394
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-28
Bought
$393
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-27
Bought
$409
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-24
Bought
$424
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-23
Bought
$430
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-22
Bought
$427
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-21
Bought
$413
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-20
Bought
$416
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-17
Bought
$420
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-16
Bought
$416
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-15
Bought
$414
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-14
Bought
$408
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-13
Bought
$411
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-10
Bought
$386
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-09
Bought
$400
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-08
Bought
$397
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-07
Bought
$401
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-06
Bought
$409
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-02
Bought
$403
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-07-01
Bought
$426
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-30
Bought
$436
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-29
Bought
$411
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-26
Bought
$397
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-25
Bought
$389
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-24
Bought
$374
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-23
Bought
$371
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-22
Bought
$351
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-18
Bought
$355
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-17
Bought
$357
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-16
Bought
$356
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-15
Bought
$369
DOYLE PETER
director · 2026-06-15
Bought
$2K
HORIZON KINETICS ASSET MANAGEMENT LLC
Owns 10%+ · 2026-06-12
Bought
$385
About Texas Pacific Land Corporation
Texas Pacific Land Corporation (TPL) operates in two core business segments: land and resource management, and water services. Its Land and Resource Management division oversees a vast land portfolio, spanning nearly 880,000 acres. This segment also holds significant oil and gas royalty interests. These include perpetual non-participating royalty interests (NPRIs) covering approximately 85,000 acres (at a 1/128th…
Oil & Gas Exploration & Production
Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works