Core Viewpoint - Texas Pacific Land Corporation (TPL) has significant land holdings in the Permian Basin and operates a water services arm, but its stock has experienced substantial declines despite its large market capitalization of nearly $21.5 billion [1][2]. Financial Performance - TPL's stock has fallen 47.2% from its 52-week high of $1,769.14 in November 2024, with a 15.5% decline in 2025 alone, contrasting sharply with the Dow Jones Industrial Average's 9.3% rise over the same period [3][4]. - In Q2 2025, TPL reported revenue growth of 8.8% year-over-year to $187.54 million, but this fell short of analysts' expectations of $198 million [6]. - Earnings per share (EPS) grew 1.4% to $5.05 but also missed the estimate of $5.48, contributing to negative investor sentiment [6]. Operational Highlights - Despite the disappointing financial results, TPL's production averaged 33.2 thousand barrels of oil equivalent per day, and easement revenue reached $36.2 million, with net income at $116.1 million [7]. - The stock has been trading below both the 50-day and 200-day moving averages, indicating bearish momentum, although it recently surpassed the 50-day average of $925.18 [5].