6 shopping days left (including today) to get the September conversion committe update.
HK appears to have halted their TPL quantitative easing program. Maybe they are bound by inside info. Or their trader is on vacation.
Keeping my eyes peeled.
9/26 Update: HK lifted 5 yesterday. I have no idea what that means.
HK has purchased TPL stock every trading day since May 4th, and stopped making purchases on September 17th. That is 94 trading days in a row, and now a three day gap in purchases.
This suggests as a possible reason there is news coming soon, and as insiders they cannot keep acquiring shares due to insider knowledge.
Am thinking this is a good sign. Fingers crossed!
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I hope its good news too, Ted. I have been reading that it will take Saudi Arabia months to totally fix everything with that ‘drone’ strike. I’m optimistically bullish on oil because of that. Knock on wood all of these catalysts manifest to make the bullish case for TPL even better.
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It na6 be good, but considering that the trust and HK have been the primary buyers for most of the past few decades, we may see liquidity dry up in the short term.
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Sorry to the typo. I meant, “It may be good..”
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No additional purchases by HK on Monday. After 94 consecutive trading days with purchases every day, we now are at four days without any buying. Something has changed.
Nobody yet knows the reason….but time will tell. I think its a sign of a trading blackout due to a significant announcement soon. It could be the September special committee status report.
Wonder if the special committee will wait until the last day of September for the release of the status report, or even later into October?
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We should call this guy: https://www.linkedin.com/in/chris-steddum-002970a
Didn’t realize we got a new VP of investor relations—Chris Steddum
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I’m surprised but I’m also not surprised.
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Sameer Parasnis, the recent TPL hire as an investment banker role, worked with Chris Steddum in a previous to TPL role. Looks to me like Sameer recruited Chris since they worked together previously.
And in the trivia category, Chris Steddum was a champion pole vaulter in college, and on the US Olympic Team. I even saw him at the 2008 Olympic trials in Eugene, Oregon. Small world sometimes!
Sources:
https://www.globenewswire.com/news-release/2016/09/07/1109681/0/en/Stifel-Hires-Senior-Energy-Investment-Banking-Team-Enhancing-Strong-Natural-Resources-Franchise.html
https://gamecocksonline.com/news/2017/5/9/Catching_Up_with_Former_All_American_Pole_Vaulter_Chris_Steddum.aspx
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Maybe the new hire for this position will help the other new guys: https://www.linkedin.com/posts/texas-pacific-land-trust-tpl-_texas-pacific-land-trust-reserves-engineer-activity-6577199344829636609-BVLB
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I think they bought some shares:
09/17/2019 – HK own 301.507 shares
09/25/2019 – HK has 313.117 shares
That’s more than five shares. Not?
They bought 11.600 shares in a week or so.
Seems good, but need more info.
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In the filing for the 5 shares purchased on 09/24, one of the footnotes states that the total number of shares held now includes a previously unreported fund in which the Investment Manager was determined to have a financial interest. This is why the number of shares held by HK jumped by 10000+. So what I gather from this is that they are buying their usual 40-50 shares per day, but are also selling a simliar number of shares in this previously unreported fun per day – which means on a net basis, they are actually only buying 5 shares a day.
This is interesting, and I have to say a bit deceiving from HK if this is true. They were only reporting their buys, but not their sales in another fund. Not really sure what all this means, but if they were only buying around 5 shares per day (net) for the past few months, its very different than the 50 shares a day they were reporting.
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