15 Highest-Priced Stocks Right Now

12. Texas Pacific Land Corporation (NYSE:TPL)

Share Price on February 14: $1,372.40

Texas Pacific Land Corporation (NYSE:TPL) is one of the largest landowners in Texas, with approximately 900,000 acres of land in West Texas, much of it concentrated in the Permian Basin. The company generates most of its revenue from oil and gas royalties and water sales.

TPL has been actively increasing its acreage through strategic acquisitions. In October last year, it acquired 7,490 net royalty acres in the Midland Basin for $286 million. The acquired assets at the time of the deal completion had a per day production of around 1,300 barrels of oil equivalent. The acquisition is likely to further strengthen Texas Pacific Land Corporation (NYSE:TPL)’s cash flow and improve earnings.

Earlier in August, the company announced two acquisitions for surface acreage and oil and gas mineral interests in the Permian Basin for $169 million. The agreements are expected to boost Texas Pacific Land Corporation (NYSE:TPL)’s net revenue interest in oil and gas wells, and also enhance its revenue stream across water supplies.

The stock’s share price has surged by over 24% this year, resulting in TPL being one of the highest-priced stocks right now. The returns were driven by a strong performance in Q3 2024, which saw a 29% year-over-year increase in oil and gas royalty production and a 32% growth in water sales volume from last year. Texas Pacific Land Corporation (NYSE:TPL) also announced a 37% hike in its quarterly dividend.

According to Insider Monkey’s database for Q3 2024, 20 hedge funds held a stake in the company. Horizon Asset Management is the largest investor in the company, with holdings valued at over $3.98 billion as of December 31, 2024.