Analyst Consensus ?
ConsensusHold5 ratings
Bullish360.0%
Neutral120.0%
Bearish120.0%
Texas Pacific Land Corporation · TPL · FY2024 Q3 · Calendar Q4 2024
TPL pairs record royalty output with expanding water and energy optionality
The call supports a constructive operating thesis: record royalty production, growing produced-water royalties, a zero-debt balance sheet, and multiple expansion initiatives provide potential support for continued growth. The evidence is balanced by commodity, regulatory, project-execution, and water-demand risks.
Reported After market closeNYSEEnergy
$23.00B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$4.63
Consensus $5.35
EPS surprise
-13.5%
Reported versus consensus
Reported revenue
$173.6M
Consensus $180.8M
Revenue surprise
-4.0%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+0.4%
Event window
SPY move
+0.8%
Same window
Abnormal move
-0.3%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
+0.2%
Up to 20 sessions
TPLSPY benchmark
Ask FN2 about TPL FY2024 Q3
Transcript, numbers and history already loaded
Why did TPL rise 0.4% after missing EPS estimates in FY2024 Q3?What changed in TPL's guidance and outlook in FY2024 Q3?Give me the bull and bear case for TPL after FY2024 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis added evidence of record royalty production, produced-water royalties becoming a major high-margin cash-flow source, recent acquisitions, and a 37% dividend increase. Management also continued to emphasize desalination and diversification beyond oil and gas.
Guidance delta
No formal guidance was provided; the company emphasized ongoing desalination, water-royalty expansion, acquisitions, and diversification plans.
Key takeaways
- Management highlighted record oil and gas royalty production of 28,300 BOE per day.
- Produced-water royalties were described as a high-margin cash-flow source with essentially zero capital or operating expenditures.
- The company is pursuing desalination, renewable-energy, battery, data-center, and selective acquisition opportunities while maintaining a zero-debt balance sheet.
Management priorities
- Expand produced-water royalty contracts and water sales.
- Advance the Phase 2b desalination facility and evaluate related power infrastructure.
- Pursue surface and mineral acquisitions while developing renewable-energy and data-center land opportunities.
Follow TPL with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$333.46Previous close
$350Low
$494.5Average
$639High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 27, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Keybanc | Overweight | Overweight | Maintain | Feb 23, 2026 |
| BWS Financial | Buy | Buy | Maintain | Aug 12, 2024 |
| Stifel | Hold | Hold | Maintain | Jan 23, 2024 |
| Credit Suisse | Underperform | Underperform | Maintain | Sep 29, 2021 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jan 31, 2020 |
Named analyst price targets
Upside is calculated against the persisted previous close $333.46. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| KeyBanc | Analyst unavailable | $639 | $517.36 | +91.6% | Feb 23, 2026 |
| KeyBanc | Tim Rezvan | $350 | $284.58 | +5.0% | Dec 1, 2025 |
Track every rating change on TPL the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationTexas 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 rate) and about 371,000 acres (at a 1/16th rate). Furthermore, it possesses around 4,000 additional net royalty acres, primarily located in West Texas.…
Historical context
All TPL earningsEnergy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| SLB Slb N.V. | FY2026 Q3 · Calendar Q4 2026 | +3.7% | +7.1% | SLB Q3 2026: Growth Broadens Beyond Core Oilfield |
| E Eni S.p.A. | FY2026 Q3 · Calendar Q4 2026 | +13.9% | +4.3% | Eni pairs upstream growth with record shareholder returns and transition progress |
| VLO Valero Energy Corporation | FY2026 Q3 · Calendar Q4 2026 | +12.9% | -2.4% | Valero Q3: Record Profitability, Strong Cash Generation and Execution Risks |
Latest beats and misses
Who reports nextBeat on EPS
- VZFY2026 Q3 · October 26, 2026+3.1% EPS-3.5% move
- CXFY2026 Q3 · October 26, 2026+12.0% EPS-0.1% move
- CDNSFY2026 Q3 · October 26, 2026+2.9% EPS+1.8% move
- BAHFY2027 Q2 · October 23, 2026+18.9% EPS-0.3% move
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
Missed on EPS
- KOFFY2026 Q3 · October 26, 2026-9.0% EPS-1.9% move
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
Get the TPL recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
- Polygon adjusted daily market bars · 2026-10-27T10:10:41.181948+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-27T10:10:41.179184+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-27. For educational purposes only; not investment advice.