10 S&P 500 Stocks That Outperformed Bitcoin in 2024

3. Texas Pacific Land Corporation (NYSE:TPL)

1-Year Price Performance: 176.14%

Number of Hedge Fund Holders: 20

Texas Pacific Land Corporation (NYSE:TPL) operates in the land and resource management, water services, and operations industries. The company is one of Texas’ largest landowners, owning approximately 900,000 acres in West Texas, the majority of which is centered in the Permian Basin.

Texas Pacific Land Corporation (NYSE:TPL) hit record oil and gas royalty production in the third quarter of 2024, reaching 28,300 barrels of oil equivalent per day. This growth was driven by substantial activity in the Midland and Northern Delaware basins. TPL’s water-related segment came as another growth driver, with water royalties increasing 46% YoY in the same quarter.