Overview
- Shares surged 50.5% in February, according to S&P Global Market Intelligence.
- Early-month gains tracked oil and gas price strength tied to escalating Iran–U.S. tensions and the Feb. 28 war, which lift TPL’s royalty income.
- Fourth-quarter results showed revenue up 13.6% with EPS at $1.79 in line, while water sales represented 38% of 2025 revenue.
- TPL disclosed a December investment in Bolt, led by Eric Schmidt, with management citing Bolt’s ambition to build up to 10 GW of data centers on TPL land and contractual rights for land-for-equity plus first refusal on water and associated power.
- KeyBanc on Feb. 23 raised its price target to $639 and kept an Overweight rating, pointing to strength in water, progress in power generation and data-center prospects, and noting 2026 capex guidance of $65–$75 million with plans for water management, desalination and multi‑gigawatt energy campuses.