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Texas Pacific Land Corporation (TPL)

NYSE - NYSE Delayed Price. Currency in USD
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1,301.49+7.72 (+0.60%)
At close: 4:00PM EDT
1,301.49 +1.49 (+0.11%)
After hours: 04:05PM EDT
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  • C
    Curtis
    Got my annual report and went through it.
    Not impressed.
    For all the wind and thunder, TPL is just a oil royalty company. All the salaries paid to the new corporate structure people has been pi$$ed away.
    What is managements plan going forward? You dunno? Neither do they.
    The price of oil is pushing $85 and the price of TPL is below what it was when crude oil was $65.
    I don't see the CS valuation but I do see the price dropping toward $1K maybe high $900's.
    Why?
    If the market sees TPL as a oil royalty company, which is what they really are priced with a 1% dividend what is in it for the market?
    What do institutional investors have to hand their hats on?
    Capital appreciation? Based on what.
    Unless TPL "management" has some supper top secret plan to develop acreage they are dependent on oil companies to do it for them and so far that does not mean anything to the shareholders.
    Can they increase the dividend to attract investors striving for yield?
    Sure.
    Will they? Sorry to say, no they want.
    Taking a long term horizon of 10 plus years, maybe. But unless management can clearly define what they propose to do with this diamond they have in their hands, even 20 years will not make a difference. My analogy when this converted was corporate has been given the keys to a fully restored 1934 Duesenberg Walker Coupe. Will they lovingly preserve what has been given to them or drive it off a cliff at high speed.
    Based on what I did not read in the annual report, I am afraid it is the latter.
    With my cost basis at $66 and change, I see other opportunities and will let somebody else play with this.
    Bearish
  • F
    Frank
    The fact that oil producers are not increasing their production is not the fault of our Board or the fact that we converted to a "C" Corp. We are just a royalty company. We don't decide when to drill, where to drill, or how much. The fact that we converted to a corp is independent from the fact that oil majors are not increasing production. They are paying down debt, increasing dividends and reducing shares instead. Often burned in the Boom or Bust cycle, they are now playing it conservatively. Can't say that I blame them, but sooner or later they will have to increase exploration and production. Royalty companies are trailing indicators, not leading indicators. But at least get those DUC's (drilled-uncomlpeted) online. The next quarter should give us some more insight, at least if there is a legitimate management discussion of the results. As a royalty co. we have little say in the direction of the drillers, but also no risks.
  • R
    Robert
    Has anyone heard of the crypto mining facilities locating on TPL land? Additional revenue royalties
  • C
    Chair #2
    There is a great tpl blog I encourage you to sign up for https://tpltblog.com. There is a button at the bottom to sign up for emails
    900k Acres IN A C CORP
    900k Acres IN A C CORP
    tpltblog.com
  • S
    Sandy
    Wow is it time to get out of this? Please give you best honest answer.
  • N
    Neil
    I note that we are down over $100 per share today on a volume of only about 16,000 shares, so no need to worry in my opinion. Although I did not read the credit Suisse report, I suspect the writer of the report failed to consider the value of the unencumbered land held by TPL amounting to almost 900,000 acres, a substantial part of which is in the Permian basin, and is thus quite valuable.
    Bullish
  • R
    Roshambo
    How does Credit Suisse see significant slowdown in key metrics with oil and gas prices this high and rig counts going up? $800 that’s pretty drastic is there something else going on?
  • F
    Frank
    The CS price projection is a kick in the teeth. Solely based on earnings a $800 price would put us at about a P/E of 28. That's reasonable, but no debt; huge cash hoard; rising energy prices; unexplored potential. This might just be a one-off low ball prediction. A good quarterly earnings report could put that to rest. So could other major investment houses coming in with higher projections. In the long run, the fundamentals will always eventually drive the price of the stock. It's time for the numbers to show what it's worth.
  • B
    Brian
    And TPL continues to sink like the proverbial rock. I rather expected this when switching to a C-corp. The current crop of executives need to be booted out.
  • S
    Sean
    329 million in cash. If I was running this company, I would make a massive buy back over the next 3 months. At least 50 million or 42000 shares. That is by far the best use of cash right now.
    Bullish
  • G
    GARY
    Hmm, guessin NG climbs thru 6… crude up to 100… 3Q ta be babueno… 4Q tabe ah muey bahueno… buybacks ? (likely) split ? (nope)… divvy ^ (sure thang)… profit margins (flat)… productiones ^ (Heckyah)… OPEC + increase ? (lip service) uh, stock price ? (1500s)… so geaux TPLC,,. 🦌🦃🎣
    Bearish
  • a
    alf
    Investment banks like Credit Suisse (not to be confused with James Bond or the Sopranos) make the residents of Sodom and Gomorrah appear as bastions of honesty.
  • G
    GARY
    Guessin recent price drop more related to ‘21 Capital Gains tax rate benefit as compared to anticipated increase in ‘22 tax… just takin some chips off tha table… expect rebound down tha road in Jan… geaux TPLC
  • D
    DONALD
    ESG rules confired by Guest on CNBC
    In a post below I mentioned the issues of ESG being required in corporate listings now on the exchanges and this negatively being taken into account by some analytical firms now, like Credit Suisse and a lot of comanies now kow towing to the far left politicos, so that they support Climate Change and Critical Race Theories, etc in their public statements and contributions to folks like BLM and other radicals. We energy gas and oil companies are not being suported by many analysts so that they look good like many other like Coke, Procter and Gamble, some banks, etc. We need to get to our board of Directors and ask them to complain about this ESG method as doing us negatively bad and financially as well. You might want to surf the internet looking for something like ESG having negative impact on stocks. JMHO
    Bearish
  • N
    Neil
    least for now, there appears to be almost no selling pressure, with just a little bit of buying, as evidenced by the very low share volume today. If a few buyer step in, and the selling pressure stays abated, we could see a pretty fast run-up in share price for TPL.

    Best regards to all fellow TPL longs.
  • R
    Roshambo
    Anybody worried about earthquakes in the Permian being blamed on fracking? How will this affect TPL’s ESG score? Will this scare off big institutional investors like Blackrock who promote these sorts if things? Seems like there is something holding TPL back?
  • R
    RH
    No changes proposed in proxy filed today. Stock seems headed down to Credit Suisse $800 target
  • a
    alf
    Verrrrry Interesting. Viper-VNOM, Permian-PBT and a few other royalty trusts have hit 12 months high in the last few days. Not drawing any conclusions.
  • N
    Neil
    The last time crude oil was at this high a price was around August 1, 2021, TPL was near $1,500 per share at that time. If crude oil stays at this level for at least a few days, I suspect we'll be marching up to $1,400 a share in short order.
    Bullish
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