TPL - Texas Pacific Land Trust

NYSE - NYSE Delayed Price. Currency in USD
761.50
-1.12 (-0.15%)
At close: 4:02PM EDT
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Previous Close762.62
Open760.00
Bid761.50 x 800
Ask766.76 x 1000
Day's Range760.00 - 768.65
52 Week Range409.00 - 915.66
Volume5,910
Avg. Volume12,400
Market Cap5.906B
Beta (3Y Monthly)1.32
PE Ratio (TTM)19.35
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1.75 (0.23%)
Ex-Dividend Date2019-03-07
1y Target EstN/A
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All
News
Press Releases
  • PR Newswire19 days ago

    Investor Group Sends Letter To Texas Pacific Land Trustees Highlighting Urgent Need For Corporate Governance Reform At TPL

    DALLAS, July 1, 2019 /PRNewswire/ -- SoftVest, L.P., Horizon Kinetics LLC and ART-FGT Family Partners, the Investor Group which collectively beneficially owns over 25% of the outstanding shares of Texas Pacific Land Trust (TPL) (the "Trust" or "TPL"), today announced that Murray Stahl, Chairman of Horizon Kinetics LLC, sent a letter to David Barry and John Norris highlighting the urgent need for corporate governance reform at the Trust for the benefit of all shareholders.

  • Business Wire23 days ago

    Dissident Shareholders of Texas Pacific Land Trust Reveal Their Apparent Goal: Seizing Control of TPL Without Paying a Control Premium

    On June 24, 2019, the Trustees of TPL announced the formation of a Conversion Exploration Committee to evaluate the conversion of TPL into a C-corporation – one of the dissidents’ core campaign demands (and something Trustee nominee General Don Cook has promised throughout his campaign to thoroughly explore). As part of this announcement, the Trustees invited Horizon Kinetics to designate a representative to join the Committee, which would give them an opportunity to participate in deliberations on the future of the Trust. Instead of identifying a representative to join the Committee, the dissident group has now filed in court a motion for declaratory judgment that Trustee David Barry was not validly elected back in January 2017 – based on their sudden claim that the New York Stock Exchange (NYSE) made what the dissidents call an “error” two and a half years ago.

  • PR Newswire24 days ago

    Investor Group Files Court Papers Seeking Prompt Confirmation Of Eric Oliver's Election As A Trustee Of Texas Pacific Land

    DALLAS, June 26, 2019 /PRNewswire/ -- SoftVest, L.P., Horizon Kinetics LLC and ART-FGT Family Partners, the Investor Group which collectively beneficially owns over 25% of the outstanding shares of Texas Pacific Land Trust (TPL) (the "Trust" or "TPL"), announced today that it has filed court papers seeking the prompt confirmation of Eric Oliver's election as the third Trustee of TPL. "Less than 24 hours before the special meeting of shareholders scheduled for May 22, 2019, David Barry and John Norris chose to bring litigation against the Investor Group in a last-ditch effort to try to prevent the election of Eric Oliver as Trustee. Instead, Mr. Barry and Mr. Norris have decided to continue wasting shareholders' money in a legal battle that they launched in the first place.

  • PR Newswire25 days ago

    Investor Group Responds To Texas Pacific Land's Formation Of "Conversion Exploration Committee"

    DALLAS, June 25, 2019 /PRNewswire/ -- SoftVest, L.P., Horizon Kinetics LLC and ART-FGT Family Partners, the Investor Group which collectively beneficially owns over 25% of the outstanding shares of Texas Pacific Land Trust (TPL) (the "Trust" or "TPL"), today announced that Murray Stahl, Chairman of Horizon Kinetics LLC, has sent a letter to David Barry and John Norris in response to the Trust's formation of a "Conversion Exploration Committee" to evaluate a conversion of the Trust into a C-corporation. The full text of the letter is below.

  • Business Wire26 days ago

    Texas Pacific Land Trust Forms Conversion Exploration Committee to Consider C-Corp Conversion

    Texas Pacific Land Trust (TPL) (the “Trust”) today announced the formation of a Conversion Exploration Committee to evaluate a conversion of the Trust into a C-corporation. The Conversion Exploration Committee will evaluate, from a corporate, corporate governance, tax, accounting and business perspective, whether the Trust should be converted into a C-corp or, in the alternative, whether the Trust should remain a business trust (with potential amendments to the declaration of trust). The Conversion Exploration Committee will begin its work this week.

  • PR Newswirelast month

    Investor Group Issues Open Letter To Texas Pacific Land Trustees David Barry And John Norris

    DALLAS, June 18, 2019 /PRNewswire/ -- SoftVest, L.P., Horizon Kinetics LLC and ART-FGT Family Partners, which collectively beneficially own over 25% of the outstanding shares of Texas Pacific Land Trust (TPL), today issued an open letter to David Barry and John Norris, two of the Trustees of TPL, urging them to share their thoughts on corporate governance and the rights of TPL beneficiaries with all TPL shareholders.

  • PR Newswirelast month

    Investor Group Demands Texas Pacific Land Trustees David Barry And John Norris Recognize Eric Oliver As Third Trustee

    DALLAS, June 17, 2019 /PRNewswire/ -- SoftVest, L.P., Horizon Kinetics LLC and ART-FGT Family Partners, which collectively beneficially own over 25% of the outstanding shares of Texas Pacific Land Trust (TPL), today issued an open letter to David Barry and John Norris, two of the Trustees of TPL, demanding that they recognize Eric Oliver as a third Trustee.

  • Business Wirelast month

    Texas Pacific Land Trust Responds to Dissident Group’s Latest Attempt to Mislead Shareholders

    Throughout its campaign to install Eric Oliver as a trustee, the Dissident Group has claimed that they are motivated by a desire for transparency, but yet again, this claim is belied by their own actions. Oliver and his Dissident Group have attempted to circumvent ongoing litigation before the United States District Court for the Northern District of Texas, a primary purpose of which is to require Mr. Oliver to provide complete and accurate information regarding his many apparent conflicts of interest. Unfortunately, Mr. Oliver and his Dissident Group continue to resist producing this basic information.

  • PR Newswirelast month

    Investor Group Calls On Texas Pacific Land Shareholders To Hold Trustees David Barry And John Norris Accountable For Their Flagrant Disregard Of Shareholders' Rights And Investments

    DALLAS, June 13, 2019 /PRNewswire/ -- SoftVest, L.P., Horizon Kinetics LLC and ART-FGT Family Partners, which collectively beneficially own over 25% of the outstanding shares of Texas Pacific Land Trust (TPL), today issued an open letter to TPL shareholders urging them to hold Trustees David Barry and John Norris accountable for their flagrant disregard of shareholders' rights and investments by failing to recognize Eric Oliver as a third Trustee and misusing millions of shareholder dollars.  The letter also calls on all shareholders to exercise their right under the declaration of the Trust to inspect TPL's books. The full text of the letter is below.

  • PR Newswire2 months ago

    Investor Group Files Counter-Claims Seeking To Recognize Election Of Eric Oliver As Trustee Of Texas Pacific Land Trust

    DALLAS, May 28, 2019 /PRNewswire/ -- SoftVest, L.P., Horizon Kinetics LLC and ART-FGT Family Partners (the "Investor Group"), which collectively beneficially own over 25% of the outstanding shares of Texas Pacific Land Trust (TPL), announced that they have filed counter-claims against David E. Barry and John A. Norris, III, the incumbent trustees of TPL, in the United States District Court for the Northern District of Texas. The counter-claims seek a declaratory judgment that the vote conducted at the May 22 shareholder meeting was valid and effective, and that Mr. Eric Oliver has been overwhelmingly elected as TPL's third trustee.  The Investor Group is also pursuing an injunction to prevent the incumbent trustees from taking action on behalf of TPL without the participation of the now duly elected third trustee, Mr. Oliver.

  • Business Wire2 months ago

    Texas Pacific Land Trust Responds to Dissident Group’s Actions

    On May 21, 2019, Texas Pacific Land Trust (TPL) (the “Trust”) gave notice that the special meeting scheduled to be convened today has been postponed to address Eric Oliver’s ongoing efforts to mislead the Trust’s shareholders by making materially misleading statements and failing to disclose material information related to his record and potential conflicts of interest. Over the past several months, the Trustees have made every effort to resolve these issues amicably and to obtain the information necessary for all shareholders to evaluate Mr. Oliver’s fitness to serve as Trustee. Mr. Oliver’s attorney never responded, forcing the Trust to take the step of postponing the meeting and filing a lawsuit in the U.S. District Court for the Northern District of Texas.

  • Business Wire2 months ago

    Texas Pacific Land Trust Releases Letter to Shareholders Regarding Recently-Filed Lawsuit against Eric Oliver

    Texas Pacific Land Trust (TPL) (“TPL” or the “Trust”) today released a letter to shareholders regarding the lawsuit filed by the Trust yesterday in the U.S. District Court for the Northern District of Texas against Eric L. Oliver for violations of federal securities law. Yesterday, the Trust filed a lawsuit in the U.S. District Court for the Northern District of Texas regarding violations of federal securities laws in Eric Oliver’s campaign to become TPL’s next Trustee.

  • PR Newswire2 months ago

    Investor Group Comments On Latest Actions Of Trustees Of Texas Pacific Land Trust To Obstruct Shareholder Democracy

    Like many of you, we are at a loss to explain the actions taken by the incumbent Trustees this afternoon on any above-board or bona fide basis. Not only did they file a meritless lawsuit against Eric Oliver, but they used it as a pretense to try to cancel tomorrow's special meeting of shareholders.  In furtherance of full transparency, we have already publicly filed with the SEC a copy of the Trustees' disclosure complaint so shareholders can review it on their own, and come to their own conclusions before the meeting tomorrow.

  • Business Wire2 months ago

    Texas Pacific Land Trust Files Lawsuit Against Eric Oliver for Securities Law Violations

    Texas Pacific Land Trust (TPL) (the “Trust”) today announced that it has filed a lawsuit (the “Lawsuit”) in the United States District Court for the Northern District of Texas against Eric L. Oliver for violations of federal securities laws in connection with the proxy contest Mr. Oliver initiated to be elected as a trustee of TPL. The Trust also announced that the special meeting of shareholders previously scheduled to be convened on May 22, 2019, and to be adjourned until June 6, 2019, has been postponed until further notice. The Lawsuit alleges that Mr. Oliver made material misstatements and failed to disclose material information relevant to shareholders and that Mr. Oliver has acted in concert with an undisclosed group including Santa Monica Partners, Universal Guaranty Life Insurance Company and potentially other third parties.

  • Business Wire2 months ago

    All Three Independent Proxy Advisors Recommend TPL Shareholders Vote FOR General Don Cook

    Texas Pacific Land Trust (TPL) (“TPL” or the “Trust”) today announced that independent proxy advisory firm Egan-Jones Ratings Company (“Egan-Jones”) has joined both Institutional Shareholder Services (“ISS”) and Glass Lewis in recommending that TPL shareholders vote FOR retired four-star General Donald “Don” G. Cook using the BLUE proxy card. Egan-Jones’ endorsement means that ALL THREE leading proxy advisors recommend that shareholders vote FOR General Cook.

  • PR Newswire2 months ago

    Investor Group Reports On Latest Efforts By Trustees Of Texas Pacific Land Trust To Interfere With Shareholder Democracy

    As you know, many brokers that hold TPL shares on behalf of beneficial owners outsource the function of distributing proxy materials and tabulating votes to a company called Broadridge Financial Solutions, Inc. ("Broadridge").  Many TPL shareholders have returned their white voting instruction forms to Broadridge, which would ordinarily aggregate all the votes cast for Eric Oliver and deliver to us an official vote and proxy that we can bring with us to the special meeting on Wednesday, May 22, 2019.

  • PR Newswire2 months ago

    Investor Group Releases Letter From Trustee Nominee Eric Oliver In Response To Inquiries Of Incumbent Trustees Of Texas Pacific Land Trust (TPL)

    Q1: In the quarterly and annual reports of AMEN Properties, LLC ("AMEN"), you are described as serving on the board of the "First National Bank of Midland." We have been unable to confirm that any such bank exists. A shareholder of AMEN pointed this out to you in a letter as early as 2012 (the letter is attached hereto as Exhibit A) and asked you to explain also several other contradictions in your resume.

  • PR Newswire2 months ago

    Investor Group Issues Questions To The Trustees Of Texas Pacific Land Trust

    Last evening, less than one week before the special meeting of shareholders, you issued a letter that demands answers to questions premised on innuendos that have been the centerpiece of your  dreadful campaign to try to ruin the reputation of Eric Oliver in order to protect your lifetime appointments as trustees of TPL. Given your and General Cook's professed commitment to giving shareholders all the information they need to make an informed decision, we believe shareholders are similarly entitled to a response to the following questions by the same deadline, most of which we have repeatedly raised with you during this campaign.

  • Business Wire2 months ago

    Texas Pacific Land Trust Sends Letter to Shareholders About Recommendations of Proxy Advisory Firms to Vote FOR General Don Cook

    Texas Pacific Land Trust (TPL) (“TPL” or the “Trust”) today sent a letter to its shareholders regarding the reports of two leading independent proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis, both of which recommended that shareholders vote FOR General Donald “Don” G. Cook to serve as TPL’s next Trustee. The Trust urges shareholders to follow the recommendations of ISS and Glass Lewis by voting FOR General Cook using the BLUE proxy card. Shareholders can also read more information by visiting www.TrustTPL.com.

  • Business Wire2 months ago

    Texas Pacific Land Trust Sends Letter Requesting Explanations from Dissident Nominee Eric Oliver

    Texas Pacific Land Trust today sent a letter to dissident nominee Eric L. Oliver, requesting certain information about Mr. Oliver’s background, interests and potential conflicts of interests to address serious concerns about his candidacy.

  • PR Newswire2 months ago

    Investor Group Further Comments On Efforts Of Trustees Of Texas Pacific Land Trust To Delay Shareholder Vote

    For weeks we have publicly expressed our concern that you would do anything in your power, even going beyond your Trustee authority, to prevent shareholders from exercising their voting rights if you could not count on the election of your hand-picked nominee, General Cook.  Unfortunately, you proved us right. The headline of your May 8 press release stated that a proxy supplement was "required by [the] SEC." The release  specifically goes on to say that the "SEC ADVISED THE TRUST THAT A SUPPLEMENT TO THE TRUST'S PROXY STATEMENT IS REQUIRED because General Cook's commitment  constitutes a fundamental change to the Trust's proxy solicitation."  (emphasis added).

  • Business Wire2 months ago

    Glass Lewis Joins ISS in Recommending that Texas Pacific Land Trust Shareholders Vote FOR General Don Cook

    Texas Pacific Land Trust (TPL) (“TPL” or the “Trust”) today announced that leading independent proxy advisory firm Glass Lewis has joined Institutional Shareholder Services (“ISS”) in recommending that TPL shareholders vote FOR retired four-star General Donald “Don” G. Cook using the BLUE proxy card. “upon a full and objective review of the arguments put forward by the Dissidents and the Trust, we ultimately see a stronger case for shareholders to support the election of General Cook.

  • PR Newswire2 months ago

    Investor Group Comments On Efforts Of Trustees Of Texas Pacific Land Trust To Delay Shareholder Vote

    As to form, we believe that your proposal to meet privately without the trustee candidates, rather than be a 'privileged/confidential' communication, should have been publicly disclosed to all shareholders. If your letter is an indication of a desire to explore steps forward, we do encourage continued discussion about corporate governance in an open forum inclusive of all shareholders, assuming this is done in a respectful manner without innuendos impugning the integrity of our members' character – as has been characteristic of your filings to date.

  • Business Wire2 months ago

    Texas Pacific Land Trust to Adjourn Special Meeting in Order to Provide Shareholders Sufficient Time to Review Proxy Supplement Required by SEC

    Texas Pacific Land Trust (TPL) (the “Trust”) today announced that, in response to a comment by the Securities and Exchange Commission (the “SEC”), the Trust will file and mail to shareholders a supplement to the Trust’s proxy statement (the “Proxy Supplement”) in connection with the special meeting (the “Special Meeting”) originally scheduled to be held on May 22, 2019. To provide shareholders sufficient time to receive by mail and review the Proxy Supplement in order to be able to cast their votes on a fully informed basis, the Trust will convene the Special Meeting before immediately adjourning – without conducting any business – until June 6, 2019. The reconvened meeting will be held at the originally scheduled location in Dallas, and the record date for the Special Meeting will remain unchanged.

  • PR Newswire2 months ago

    Investor Group Calls Again On Incumbent Trustees Of Texas Pacific Land Trust (TPL) To Publicly Commit To A Shareholder Vote On May 22

    "But we strongly disagree with ISS' suggestion that General Cook is the right nominee to effect and oversee change. After all, he was hand-picked by the two incumbent trustees at the suggestion of their outside legal advisor, who also identified General Cook as a nominee. This last fact had not even been disclosed by TPL before the ISS report was issued this morning, and seems to indicate that the incumbent trustees have decided to outsource to outside counsel not only the legal and public relations functions, but also the role of the nominating committee. "We strongly believe that the existing trustee vacancy needs to be filled in with a candidate that knows the E&P industry, has known and studied TPL for over 15 years, is fully committed to corporate governance changes, has a solid business track record in the industry, and has real skin in the game.