Does Texas Pacific Land Stock Have More Room To Run After 5x Rally?

Does Texas Pacific Land Stock Have More Room To Run After 5x Rally?

Texas Pacific Land (NYSE: TPL), a large landowner holding around 900k acres in oil-rich West Texas, has seen its stock rally by about 5x from around $310 on March 23, 2020 (when the broader markets made a bottom due to the spread of Covid-19) to about $1, 580 currently. After a share price collapse in March 2020, TPL stock regained ground and largely recovered to pre-Covid levels of around $700 by the end of 2020. The stock more than doubled this year, on account of rising oil prices, which should drive up exploration and production activity, and TPL, being one of the largest holders of oil and gas royalty rights and leases, stands to benefit. The stock is also up by about 3. 5x since the end of 2017. There seems to be still more upside for TPL stock in the near-to-medium term, given the favorable outlook for the global economy which should help oil and gas drilling and its move to convert from a trust into a corporation. Our dashboard 'Why Texas Pacific Land Stock Is Up 3. 5x Since The End Of 2017?' provides the key numbers behind our thinking, and we explain more below. Texas Pacific Land's