With a market cap. of $23.3 billion, Texas Pacific Land Corporation (TPL) is one of the largest land and royalty owners in Texas, with most of its holdings concentrated in the Permian Basin. Rather than producing oil and gas directly, the company generates revenue from its land, mineral, and royalty interests throughout the lifecycle of wells.
Companies valued at more than $10 billion are generally considered “large-cap” stocks, and Texas Pacific Land fits this criterion perfectly. Its diverse revenue streams include easements and leases, water services, material resources, subsurface rights, and oil and gas royalties.
