Texas Pacific Land Boosts Dividend 12.5% to $0.60, KeyBanc Raises Target to $639
Board approved 12.5% quarterly dividend increase to $0.60 per share payable March 16, 2026, on record of March 2. Q4 2025 revenue reached $211.6M with net income of $123.3M ($1.79 EPS), and KeyBanc lifted price target to $639 citing strong water, power and data center growth prospects.
1. Dividend Increase and Record Date
The board approved a 12.5% quarterly dividend hike to $0.60 per share payable March 16, 2026, to shareholders of record as of March 2, 2026.
2. Q4 2025 Financial Performance
Revenue for the fourth quarter reached $211.6 million, with net income of $123.3 million ($1.79 per diluted share), adjusted EBITDA of $178.1 million and free cash flow of $118.9 million; royalty output averaged 37.5 thousand barrels of oil equivalent per day, water sales revenue totaled $60.7 million on volumes of 1.0 million barrels per day, and produced water royalties contributed $33.5 million from 4.8 million barrels per day, while water services and operations generated $98.2 million and land and resource management brought in $113.4 million.
3. Analyst Upgrades and Strategic Outlook
KeyBanc upped its price target to $639 from $350, citing strong water segment dynamics and advancing power generation and data center projects; the company guided to $65–75 million in capital expenditures for 2026 focused on water management and desalination technologies, aiming to build multiple multi-gigawatt energy campuses.