Welcome to our dedicated page for Texas Pacific Land Corporation news (Ticker: TPL), a resource for investors and traders seeking the latest updates and insights on Texas Pacific Land Corporation stock.
Texas Pacific Land Corporation (TPL) is one of the largest landowners in Texas, holding approximately 888,333 acres across eighteen counties. Established in 1888 as a result of the Texas and Pacific Railway Company's reorganization, TPL has evolved to manage and monetize its vast landholdings through various means, including oil and gas royalties, grazing leases, easements, specialty leases, and land sales.
Texas Pacific Land Corporation operates through two primary business segments: Land and Resource Management and Water Services and Operations. The Land and Resource Management segment is dedicated to managing the company's perpetual oil and gas royalty interests, which cover around 459,200 acres, and the surface acres of land. This segment is the main revenue generator for the corporation.
The Water Services and Operations segment provides a comprehensive range of water services to operators, including produced-water treatment, infrastructure development, and disposal solutions. This segment aims to support the increasing demand for water management solutions in the energy sector.
Recently, Texas Pacific Land Corporation has focused on enhancing its revenue streams through strategic partnerships and the development of new projects within its land and resource management and water services segments. The company's financial condition remains robust, supported by its diversified revenue sources and extensive land assets. TPL's continuous efforts in innovation and sustainable land management practices place it as a significant player in the Texas land and resource market.
Texas Pacific Land Corporation (NYSE: TPL) reported robust financial results for Q2 2021, showing a net income of $57.0 million ($7.36 per share), up 106.8% YoY. Total revenues reached $95.9 million, driven by a significant increase in oil and gas royalty revenue. Cash flows from operations amounted to $44.1 million, and a quarterly dividend of $2.75 per share was declared. Despite some increased operating expenses due to severance costs, the company maintains a strong balance sheet and flexibility for future investments.
Texas Pacific Land Corporation (TPL) announced its plans to release second quarter 2021 financial results on August 5, 2021, after market close. A conference call is scheduled for August 6, 2021, at 8:30 a.m. ET to discuss the results. TPL, a major landowner in Texas, primarily generates revenue through oil and gas development, land use fees, and utility easements. Interested parties can access the conference call via the company’s website or by dialing in.
Texas Pacific Land Corporation (NYSE: TPL) reported its Q1 2021 financial results, revealing a net income of $50.1 million, down 12.8% from $57.4 million in Q1 2020. Total revenues decreased to $84.2 million, impacted by operational disruptions from Winter Storm Uri and reduced development in the Permian Basin. Water sales dropped 40.7%, resulting in a $14.0 million decline. However, oil and gas royalties rose by 16.9%. The company completed its transition from a trust to a corporation on January 11, enhancing governance and management alignment.
Texas Pacific Land Corporation (NYSE: TPL) will announce its first quarter 2021 financial results on May 6, 2021, after market close. A conference call for discussing the results is set for May 7, 2021, at 8:30 a.m. ET. TPL operates approximately 880,000 acres in Texas and generates revenue from various sources related to oil and gas development, such as land use fees, royalties, and easements. Investors can access the conference call via telephone or through a webcast on the company's website.
Texas Pacific Land Corporation (TPL) announced the retirement of CFO Robert Packer effective May 31, 2021, after 10 years of service. He will be succeeded by Chris Steddum, currently TPL's Vice President of Finance and Investor Relations. Stephanie Buffington has been appointed as Chief Accounting Officer. Both will officially start their roles on June 1, 2021. Additionally, TPL has appointed Deloitte & Touche LLP as its new Independent Registered Public Accounting Firm for 2021, succeeding Lane Gorman Trubitt, LLC.
Texas Pacific Land Corporation (NYSE: TPL) reported its fourth quarter and full-year financial results for 2020, revealing a net income of $44.8 million for Q4, down 35.2% from Q4 2019, primarily due to decreased land and water sales. Full-year net income also dropped 44.8% to $176.0 million. The Company declared a quarterly dividend of $2.75 per share and a special cash dividend of $10.00 per sub-share. Despite challenges in the oil and gas sector and impacts from COVID-19, TPL reported its second-largest revenue year, $302.6 million, historically.
Texas Pacific Land Corporation (NYSE: TPL) has successfully completed the reorganization of Texas Pacific Land Trust, transferring all assets and obligations to TPL Corporation. Sub-share certificate holders will receive one share of Common Stock for each sub-share certificate they hold. The new trading of TPL Corporation begins today on NYSE under the symbol 'TPL'. The reorganization aims to better align with investor expectations and enhance value creation through improved governance. TPL Corporation owns approximately 880,000 acres of land in Texas, generating revenue through various land use activities.
The Trustees of Texas Pacific Land Trust (NYSE: TPL) announced the reorganization of the Trust into Texas Pacific Land Corporation, effective January 11, 2021. Holders of sub-share certificates will receive TPL Corporation common stock on a one-for-one basis, with trading commencing on the same date under the symbol 'TPL.' The Trust's shares will cancel as TPL Corporation becomes an independent, publicly traded company. A Registration Statement related to the reorganization has been filed with the SEC, and investors are advised to consult these documents for important information.
Texas Pacific Land Trust (NYSE: TPL) has declared a special cash dividend of $10.00 per sub-share certificate, payable on December 17, 2020, to shareholders of record by December 11, 2020. This brings the cumulative dividend for 2020 to $26.00 per share, totaling $201.7 million returned to shareholders this year. Additionally, the Trust is progressing with its corporate reorganization efforts, expected to conclude in early January 2021, transitioning to Texas Pacific Land Corporation.
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