Dallas-based Texas Pacific Land Corp., which employs 100 people, has seen its stock more than triple this year, giving it a market value of almost $40 billion.

The Dallas-based company’s stock has surged 230 percent this year, the Dallas Morning News reported. The jump to a market value of around $40 billion now exceeds Texas stalwarts such Halliburton as American Airlines,

KEY TAKEAWAYS Texas Pacific Land shares rose in intraday trading Friday, a day after S&P Dow Jones Indices said the real estate operating company will be replacing Marathon Oil in the S&P 500.TPL's shares,

Dallas-based Texas Pacific Land Corp., which employs 100 people, has seen its stock more than triple this year, giving it a market value of almost $40 billion.

Texas Pacific Land Corp. owns nearly 900,000 acres in energy-rich West Texas, an area greater in size than Yosemite National Park.