4 thoughts on “Insider Buys”

  1. Good research! I, probably like many other holders, have a big personal position. Happy to see the “insider” buying even if it’s not able to support the price right now.

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  2. Nice to see Tyler own a few shares, but given his salary and bonus structure, would like to see a lot more of an ownership position. I remember back in the proxy fight and before the c-corp path there was some kind of agreement with the directors and executives to have them build up a large percentage of their salary/bonus and have this established after a few years. Then it was stopped due to the c-corp path. Not sure give the changes if this is still in place, or has to be redone. Anyone have any visibility on this?

    I have also been tracking the SEC reporting, and its interesting HK via their mutual funds, the partnerships that are part of FRMO, and the private customer accounts are still buying every day. Its small numbers which works out to about 600k in buys every month. With several of the mutual funds above 50% of the portfolio already in TPL, it suggests they see more upside.

    Like HK, I don’t diversify and now have an oversized TPL position relative to everything else. But have no plans to sell any shares.

    Their continued buying makes me think, in a much smaller scale, I should be doing the same thing. Anyone else still buying?

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  3. I bought in at a price of around $1600 in anticipation of a small macro catalyst which I think should support shares in the near term. Notice the divergence between TPL, E&P peers, and WTI. This summer you should see WTI north of $70, and I think there’s a reasonable probability of the oil super cycle thesis playing out. Maybe not >$100, but $70-$80 seems reasonable to assume for the medium term (vs $55 in most equity models)

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    • TPL isn’t an E&P, so the comparison isn’t terribly relevant. WTI could very well go up, but that’s not necessarily a catalyst for price appreciation even though one can correlate oil with TPL.

      I think what has been and will continue to be a more important force in share appreciation is the corporate conversion and it’s opening to the general institutional universe. No more “can’t own a trust” clauses. Of course there are other forces at work too, but I think that’s had the biggest short term influence besides general exuberant market dynamics.

      Long TPL.

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