5 High Growth Energy Stocks To Buy

4. Texas Pacific Land Corporation (NYSE:TPL)

Number of Hedge Fund Holders: 20

Quarterly Revenue Growth YoY as of December 30, 2022: 54.50%

Texas Pacific Land Corporation (NYSE:TPL) engages in the land and resource management, and the company is engaged in easements and commercial leases activities, such as oil, gas and related hydrocarbons, power line and utility easements, and subsurface wellbore easements. On November 2, Texas Pacific Land Corporation (NYSE:TPL)’s Q3 revenue of $191.11 million climbed 54.5% year-over-year, beating market estimates by $15.44 million. It is one of the top high growth stocks to monitor. 

On February 13, Texas Pacific Land Corporation (NYSE:TPL) declared a $3.25 per share quarterly dividend, an 8.3% increase from its prior dividend of $3.00. The dividend is payable on March 15, to shareholders of record on March 8. 

According to Insider Monkey’s Q3 data, 20 hedge funds were long Texas Pacific Land Corporation (NYSE:TPL), compared to 22 funds in the prior quarter. Murray Stahl’s Horizon Asset Management is the largest stakeholder of the company, with 1.5 million shares worth $2.6 billion.

Here is what Wedgewood Partners has to say about Texas Pacific Land Corporation (NYSE:TPL) in its Q3 2022 investor letter:

“Texas Pacific Land was a top contributor to performance during the quarter and the year. Revenue grew over +50% as oil and gas royalties were up over +60% driven by higher realized prices on the production of oil and gas on the Company’s acreage. Production of oil and gas also grew +20% over 2021. The Company’s royalty interests span over 880,000 acres in West Texas. Most of this land is located in the highly productive Delaware Basin of the Permian Basin. We expect that development activity will continue to grow at a rapid pace in this region, primarily driven by both domestic and multinational producers looking to maximize returns on increasingly scarce oil and gas capital expenditures.”