By Ryan Dezember
Talk about selling your winners.
Texas Pacific Land, the bankrupt 19th-century railroad turned energy-stock juggernaut, is at risk of declining for a seventh straight day amid its most-severe slump since the Covid market crash in March 2020.
Shares of the oil-patch landowner have tumbled about 25% since joining the S&P 500 last last month. Nonetheless, Texas Pacific remains one of nine stocks in the broad index to have at least doubled this year.
The firm owns swaths of desert in the Permian Basin, collecting rent and royalties from drillers in a corner of the U.S. that producers more oil and gas than many OPEC members.
Texas Pacific has lately been buying more land and adding bitcoin miners, battery firms, wind farms, solar arrays, and carbon-sequestration projects to its list of tenants.
Read more about Texas Pacific's rise:
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
December 12, 2024 14:04 ET (19:04 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。