Author Topic: TPL - Texas Pacific Land Trust  (Read 36062 times)

irakraus

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Re: TPL - Texas Pacific Land Trust
« Reply #60 on: December 04, 2019, 05:03:38 AM »
TA-DAH?

https://www.businesswire.com/news/home/20191204005475/en/

"The committee unanimously recognized compelling reasons to move to a corporate structure"

Update: 8-k is out too - https://www.sec.gov/ix?doc=/Archives/edgar/data/97517/000121390019025275/f8k120419_texas.htm

If the company released it, and the trustees were against it at the beginning, so I guess we are heading somewhere good
« Last Edit: December 04, 2019, 05:14:48 AM by irakraus »


ValueMaven

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Re: TPL - Texas Pacific Land Trust
« Reply #61 on: December 04, 2019, 06:03:43 PM »
Yes.  Huge news.  I like where this is going directionally

zurgenfeldt

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Re: TPL - Texas Pacific Land Trust
« Reply #62 on: December 19, 2019, 06:20:37 PM »
I bought 10K of this stock a couple months ago. I only wish it would dip down again so I could snap up another 100K.
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ValueMaven

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Re: TPL - Texas Pacific Land Trust
« Reply #63 on: December 21, 2019, 05:49:49 AM »
C-Corp conversion is a really big deal ... plus higher oil prices help.  Plus the trust now has close to ~$400M in cash on the b/s and zero debt (~$55 per share in cash) ... so I think some people are expecting a nice payout or dutch offer at somepoint.  I'd prefer that the trust just retire units like it has done so for the past 80+ years.

Haasje

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Re: TPL - Texas Pacific Land Trust
« Reply #64 on: December 21, 2019, 06:00:13 AM »
I think they want to accelerate the water business right? Takes some cash.

Scunny Bunny

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Re: TPL - Texas Pacific Land Trust
« Reply #65 on: December 22, 2019, 04:15:15 AM »
Accelerate water rights biz? Just buy PICO

Gregmal

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Re: TPL - Texas Pacific Land Trust
« Reply #66 on: December 22, 2019, 06:31:08 AM »
Ive said it before and Ill say it again, but Im surprised at how many people are in favor of the changes being made/suggested. Theres a saying if it aint broke dont fix it...Not only was this not broken, but it was glorious example of something so unique and largely uncorrupted. Was there much of anything that did better than TPL? With less operational risk? Yes the trustees were scumbags so that has to change. But transforming this from what it was, into an operating company who is making acquisitions, taking on risks, and burning resources on G&A? IDK, seems like an unnecessary risk to me. Additionally, water rights arent the easiest of businesses either...just go look at PICO and its history.

ValueMaven

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Re: TPL - Texas Pacific Land Trust
« Reply #67 on: December 22, 2019, 07:27:11 AM »
What acquisitions have they made?  Moving to a C-Corp will allow shareholders to VOTE current management OUT, and get in new trustees who are more aligned with TPL's original mission (self liquidation).  Talk about idiots luck ... 90 years+ on reducing split-adjusted sharecount from something like 500,000,000 shares o/s to 7.7million - while net income basically exploded.  I'm all for keeping the original TPL - but you need modern governance.  Will be an interesting next few quarters. 

Castanza

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Re: TPL - Texas Pacific Land Trust
« Reply #68 on: February 05, 2020, 10:47:39 AM »
Q4 results looked pretty solid.

A little throwback entertainment to May
https://www.youtube.com/watch?v=9wu26HDA9GY