Welcome to our dedicated page for Texas Pacific Land SEC filings (Ticker: TPL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Texas Pacific Land Corporation reported strong fourth-quarter and full-year 2025 results, highlighted by record consolidated revenue, net income, and free cash flow. Full-year revenue reached $798.2 million, up from $705.8 million, while net income rose to $481.4 million, or $6.97 per diluted share. Free cash flow was $498.3 million and Adjusted EBITDA was $687.4 million, reflecting high margins across royalties, surface, and water businesses.
In the fourth quarter, revenue was $211.6 million and net income was $123.3 million, or $1.79 per diluted share, with oil and gas royalty production of 37.5 thousand Boe per day. Water sales revenue was $60.7 million and produced water royalties were $33.5 million, both supported by higher volumes.
The company completed a $450.7 million all-cash acquisition of 17,306 net royalty acres, invested $50 million in a data infrastructure venture, entered a $500 million undrawn revolving credit facility, and effected a three-for-one stock split. The board declared a quarterly dividend of $0.60 per share, a 12.5% increase, payable March 16, 2026.
Horizon Kinetics Asset Management LLC, a more than 10% owner of Texas Pacific Land Corp, reported an open-market purchase of 1 share of common stock on February 17, 2026 at $425.55 per share. After this trade, it directly holds 3,479,374 common shares. A footnote references an amended Schedule 13D from December 18, 2024 noting 3,578,173 shares beneficially owned at that time and clarifies that Murray Stahl does not exercise investment discretion over the issuer’s securities.
HORIZON KINETICS ASSET MANAGEMENT LLC reported open-market purchase transactions in a Form 4 filing for TPL. The filing lists transactions totaling 1 shares at a weighted average price of $426.38 per share. Following the reported transactions, holdings were 3,479,373 shares.
Horizon Kinetics Asset Management LLC, a more than 10% owner of Texas Pacific Land Corp (TPL), reported a small open-market purchase of common stock. On February 12, 2026, the firm bought 1 share at a price of $413.24 per share.
After this transaction, Horizon Kinetics Asset Management LLC directly beneficially owned 3,479,372 shares of Texas Pacific Land common stock. A related disclosure notes prior beneficial ownership figures and that a three-for-one stock split of the issuer’s shares was effective on December 22, 2025.
Texas Pacific Land Corp’s Chief Financial Officer Chris Steddum reported multiple equity-compensation transactions on February 10, 2026. Restricted stock units converting on a one-for-one basis delivered 1,269 common shares, while some shares were used to satisfy tax withholding obligations.
He also acquired 6,393 common shares from performance share units granted in 2023, which vested after relative total shareholder return and free cash flow per share targets were achieved above 100% of target. Following these transactions, he directly held 14,526 common shares plus time-based RSUs that vest in tranches through 2028.
The filing notes a correction of a prior clerical error in reported RSU totals and states that all share amounts reflect a 3-for-1 stock split effective December 22, 2025.
Texas Pacific Land Corp Chief Accounting Officer Stephanie Buffington reported RSU vesting and related share movements. On February 10, 2026, she converted 513 restricted stock units into the same number of common shares, then surrendered 245 shares to the issuer for tax withholding at $401.62 per share.
After these transactions, she directly owned 3,118 common shares. She also held 1,728 RSUs, of which 864 will vest on February 13 of each of 2026 and 2027, and 771 RSUs, with 255 vesting on February 15, 2026 and 258 vesting on February 15 of each of 2027 and 2028. All amounts reflect a 3-for-1 stock split effective December 22, 2025.
Texas Pacific Land Corp President & CEO Tyler Glover reported several equity-compensation transactions dated February 10, 2026. He exercised 2,664 restricted stock units (RSUs) into common stock and received 13,327 common shares from performance share units (PSUs) granted in February 2023 that vested based on relative total shareholder return and free cash flow per share performance.
To cover tax withholding obligations, 1,137 shares and 5,643 shares of common stock were surrendered at $401.62 per share. After these transactions, he directly owned 41,038 common shares, plus 7,614 RSUs and 4,878 RSUs outstanding with scheduled vesting in 2026, 2027 and 2028. All share figures reflect a 3-for-1 stock split effected on December 22, 2025.
Texas Pacific Land Corp executive Micheal W. Dobbs reported multiple equity-compensation transactions dated February 10, 2026. He acquired 819 shares of common stock through the exercise of restricted stock units at $0 per share and received an additional 4,132 common shares from vested performance share units based on achieved performance targets.
To cover tax withholding obligations, 379 and 1,832 shares of common stock were surrendered at a price of $401.62 per share. After these transactions, he directly owned 6,919 shares of common stock, along with outstanding restricted stock units scheduled to vest in 2026, 2027 and 2028. All share figures reflect a 3-for-1 stock split effective December 22, 2025.
Horizon Kinetics Asset Management LLC, a 10% owner of Texas Pacific Land Corp, reported a small open-market purchase of common stock. The firm bought 1 share on February 11, 2026 at $407.53 per share, bringing its directly held beneficial ownership to 3,479,371 shares.
Horizon Kinetics Asset Management LLC, a more than 10% owner of Texas Pacific Land Corp (TPL), reported a small open-market purchase of common stock. On February 10, 2026, it bought 1 share at $388.01 per share, increasing its directly held position to 3,479,370 shares.
The footnote references an earlier Schedule 13D amendment noting 3,578,173 shares of beneficial ownership, as well as Murray Stahl’s separate direct and indirect interests. It also notes a three-for-one stock split effective December 22, 2025 and states that Mr. Stahl does not exercise investment discretion over these securities.