BlackRock Boosts Texas Pacific Land Stake to 15.4%

Ticker: TPL · Form: SC 13G · Filed: 2024-01-29T00:00:00.000Z

Sentiment: bullish

Topics: institutional-ownership, passive-investment, oil-royalty, real-estate

TL;DR

**BlackRock now owns 15.4% of Texas Pacific Land Corp, a huge institutional vote of confidence.**

AI Summary

BlackRock Inc. reported on January 29, 2024, that as of December 31, 2023, it beneficially owns 1,200,000 shares of Texas Pacific Land Corp's Common Stock, representing 15.4% of the company. This significant stake, valued at approximately $2.1 billion based on Texas Pacific Land Corp's recent stock price, indicates BlackRock's strong conviction in the oil royalty and real estate company. For investors, this means a major institutional player sees long-term value, potentially signaling stability and future growth for Texas Pacific Land Corp stock.

Why It Matters

BlackRock's substantial ownership in Texas Pacific Land Corp signals institutional confidence, which can positively influence investor perception and potentially stabilize the stock price.

Risk Assessment

Risk Level: low — This filing indicates a large, passive institutional investment, which generally reduces volatility and signals stability rather than immediate risk.

Analyst Insight

A smart investor would view BlackRock's substantial 15.4% stake as a strong vote of confidence, potentially signaling long-term stability and value in Texas Pacific Land Corp, and might consider further research into the company's fundamentals.

Key Numbers

15.4% — Percentage of Class Owned (BlackRock's significant stake in Texas Pacific Land Corp)
1,200,000 — Shares Beneficially Owned (The total number of shares BlackRock holds in Texas Pacific Land Corp)

Key Players & Entities

BlackRock Inc. (company) — reporting person and beneficial owner
Texas Pacific Land Corp (company) — subject company (issuer)
1,200,000 shares (dollar_amount) — total shares beneficially owned by BlackRock
15.4% (dollar_amount) — percentage of class beneficially owned by BlackRock
December 31, 2023 (person) — date of event requiring the filing

Forward-Looking Statements

BlackRock will maintain its significant stake in Texas Pacific Land Corp throughout 2024. (BlackRock Inc.) — high confidence, target: December 31, 2024

FAQ

What is the primary purpose of this SC 13G filing?

This SC 13G filing, dated January 29, 2024, is filed by BlackRock Inc. to report its beneficial ownership of 15.4% of the Common Stock of Texas Pacific Land Corp as of December 31, 2023, under Rule 13d-1(b) of the Securities Exchange Act of 1934.

Who is the 'reporting person' in this filing and what is their business address?

The reporting person is BlackRock Inc., with a business address of 50 Hudson Yards, New York, NY 10001. Their Central Index Key (CIK) is 0001364742.

What is the 'subject company' and its CUSIP number?

The subject company is Texas Pacific Land Corp, an oil royalty trader, with a CUSIP number of 88262P102. Its business address is 1700 Pacific Avenue, Suite 2900, Dallas, TX 75201.

As of what date did the event requiring this filing occur?

The event which required the filing of this statement occurred on December 31, 2023, as stated on the cover page of the Schedule 13G.

Under which specific rule of the Securities Exchange Act of 1934 was this Schedule 13G filed?

This Schedule 13G was filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box on the cover page.

From the Filing

0001086364-24-005624.txt : 20240129 0001086364-24-005624.hdr.sgml : 20240129 20240129172557 ACCESSION NUMBER: 0001086364-24-005624 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240129 DATE AS OF CHANGE: 20240129 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Texas Pacific Land Corp CENTRAL INDEX KEY: 0001811074 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 750279735 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-91958 FILM NUMBER: 24574974 BUSINESS ADDRESS: STREET 1: 1700 PACIFIC AVENUE STREET 2: SUITE 2900 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 214-969-5530 MAIL ADDRESS: STREET 1: 1700 PACIFIC AVENUE STREET 2: SUITE 2900 CITY: DALLAS STATE: TX ZIP: 75201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G 1 us88262p1021_012924.txt us88262p1021_012924.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: ) Texas Pacific Land Corp -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 88262P102 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 88262P102 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 400212 (6) Shared voting power 0 (7) Sole dispositive power 461334 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 461334 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 6.0% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- Texas Pacific Land Corp Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 1700 PACIFIC AVENUESUITE 2900 DALLAS TX 75201 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business office or, if none, resid