Sector Update: Energy Stocks Lower in Wednesday Afternoon Trading
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 28 2024
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Source: NASDAQ.COM
Energy Market Trends: Energy stocks are experiencing a decline, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund both down 0.9%. Crude oil prices are also falling, while natural gas futures are rising.
Corporate Developments: TotalEnergies faces a $48 million fine, Dril-Quip disputes a merger report, and Texas Pacific Land has made acquisitions in the Permian Basin, resulting in a slight increase in its stock price.
Analyst Views on TPL
About TPL
Texas Pacific Land Corporation is the landowner in the State of Texas with approximately 882,000 surface acres of land, principally concentrated in the Permian Basin. Its segments include Land and Resource Management and Water Services and Operations. The Land and Resource Management segment focuses on managing Company’s oil and gas royalty interest and surface acres located in 19 different countries. The Land and Resource Management segment encompasses the business of managing its approximately 882,000 surface acres of land and its approximately 207,000 NRA of oil and gas royalty interests, principally concentrated in the Permian Basin. This segment consists of royalties from oil and gas, revenues from easements, commercial leases and renewables, and land and material sales. The Water Services and Operations segment encompasses the business of providing a full-service water offering to operators in the Permian Basin. Its services include water sourcing and produced water disposal.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.





