The filing also included a footnote clarifying that Murray Stahl, associated with Horizon Kinetics, does not exercise investment discretion over the issuer’s securities, despite having a direct and indirect interest in additional shares. TPL maintains a strong financial position with more cash than debt on its balance sheet and sufficient cash flows to cover interest payments. TPL maintains a strong financial position with more cash than debt on its balance sheet and sufficient cash flows to cover interest payments.
The filing also included a footnote clarifying that Murray Stahl, associated with Horizon Kinetics, does not exercise investment discretion over the issuer’s securities, despite having a direct and indirect interest in additional shares. TPL maintains a strong financial position with more cash than debt on its balance sheet and sufficient cash flows to cover interest payments.
The filing also included a footnote clarifying that Murray Stahl, associated with Horizon Kinetics, does not exercise investment discretion over the issuer’s securities, despite having a direct and indirect interest in additional shares.
In other recent news, Texas Pacific Land (NYSE:TPL) Corp has been making significant strides. The company’s recent financial results showed a surge in oil and gas royalty production and water sales revenues, with consolidated revenues reaching $174 million and adjusted EBITDA reported at $144 million. Texas Pacific Land Corp’s water sales revenues saw a significant year-over-year increase of 37%, largely due to enhanced fracking techniques.
The company also announced a 37% increase in its quarterly dividend to $1.60 per share. This comes alongside news of Texas Pacific Land Corp’s strategic acquisitions in the Permian Basin and a record increase in oil and gas royalty production.
In governance developments, Texas Pacific Land Corp has amended its corporate bylaws, now requiring a special meeting to be called upon the written request of stockholders owning at least 25% of the outstanding common stock. This change is in line with the newly adopted Third Amended and Restated Bylaws.
Furthermore, Texas Pacific Land Corp is set to join the S&P 500, replacing Marathon Oil Corp (NYSE:MRO). This change comes as Marathon Oil is being acquired by ConocoPhillips (NYSE:COP). These are among the recent developments for Texas Pacific Land Corp.
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