By Andrew Bary
Texas Pacific Land, which owns significant acreage in the energy-rich Permian Basin, will join the S&P 500 index, replacing Marathon Oil.
The changes will be effective before the start of trading on Nov. 26. Texas Pacific Land stock is up 5% in after-hours trading to $1,595 after gaining 4% in regular trading. The stock has surged almost 200% in 2024.
Marathon Oil is being dropped because it will be purchased by ConocoPhillips in a deal expected to close on Nov. 22.
Super Micro Computer, which was added to the S&P 500 earlier this year, will be staying in the index. There had been speculation that it might be dropped because a delay in filing a key financial report threatened to result in its being delisted from the Nasdaq.
Super Micro announced its hiring of BDO, a new accounting firm, on Monday as part of a plan to restore its compliance with listing requirements on the Nasdaq stock exchange following its failure to file its 10-K report.
Write to Andrew Bary at andrew.bary@barrons.com
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(END) Dow Jones Newswires
November 21, 2024 18:02 ET (23:02 GMT)
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