New York, Feb 20, 2026, 09:19 EST — Premarket
- Shares of Texas Pacific Land surged about 10.5% before the bell, as the company posted full-year highs in both revenue and cash flow.
- The company lifted its quarterly dividend by 12.5%, crediting a fresh royalty-acre deal and a new data-center infrastructure investment.
- After a brisk winter rally, traders are watching to see whether those gains will hold at the open.
Shares of Texas Pacific Land Corporation jumped about 10.5% before Friday’s opening bell, changing hands near $486.56. The stock had finished at $440.26 the previous session.
These days, TPL’s price swings carry extra weight. The stock has become a high-priced proxy for Permian Basin exposure—without the headaches of operator drilling risk. Investors zero in on royalty and water service cash flow, keeping a sharp eye on management’s capital decisions.
This week, the company’s latest results shifted focus squarely onto its water infrastructure and data-center projects—both tied to its land. Producers are already reconsidering drilling strategies with commodity prices cooling off.
Texas Pacific Land Corporation (TPL) posted net income of $123.3 million, or $1.79 per diluted share, on $211.6 million in revenue for the fourth quarter, per results released late Wednesday. For 2025, net income landed at $481.4 million with total revenue of $798.2 million, and free cash flow after capex came to $498.3 million. CEO Tyler Glover called it “an excellent finish to a record year” and pointed to “next-generation opportunities in data centers and produced water desalination.” 1
The board is raising the quarterly cash dividend to $0.60 per share—a 12.5% lift from last quarter’s typical payout. The dividend goes to shareholders on record March 2, with payment set for March 16, according to the company. 1
TPL is taking a different tack from its usual royalty strategy. The company spent $450.7 million in cash to acquire 17,306 net royalty acres—mostly in the Midland Basin. Another $50 million went to Bolt Data & Energy, locking in a deal aimed at developing major data center campuses and infrastructure on TPL land. 1
Texas Pacific Land Corporation lined up a $500 million revolving credit facility, but said it hasn’t drawn any funds and wrapped up the year in a net cash position. 1
Texas Pacific Land Corporation submitted a new Form 8-K to the U.S. Securities and Exchange Commission, dated Feb. 18, alongside its annual report for the year ending Dec. 31. 2
Some old headaches resurfaced last quarter. Texas Pacific Land Corporation said fourth-quarter revenue growth was held back by a step down in oil and gas royalty revenue from the previous quarter. The company noted its revenue tracks commodity prices, plus decisions made by its customers on development and operations. 1
Horizon Kinetics Asset Management, which is shown as a 10% owner, bought just one share at $435.13 on Feb. 18, a Form 4 filing shows. That tiny purchase edged its direct holding up to 3,479,375 shares. 3
The premarket move draws attention, but the real question is whether the gains hold up when trading kicks off. Investors are watching to see if the stock can maintain those recent highs as details shake out around the royalty-acres deal and the Bolt data-center news. Next up: the dividend record date lands on March 2. 1
