Texas Pacific Land will join the S&P 500 index on Nov. 26, replacing Marathon Oil, which is being bought by ConocoPhillips.
Texas Pacific owns land and mineral rights in West Texas where other companies drill for oil, collecting royalties.
Mueller Industrials will move up from the S&P SmallCap 600 to the S&P MidCap 400, replacing Texas Pacific Land. Atlas Energy Solutions will replace Mueller in the S&P SmallCap 600.
Texas Pacific Land stock jumped 7.6% Monday, hitting a fresh high.
Mueller Industrials tumbled 5.5% Friday. More mutual fund and ETF money tracks the S&P SmallCap 600 than the MidCap 400, so stocks that move up to the 400 often fall.
Atlas Energy stock jumped 10% to 23.67. AESI stock has a 23.72 consolidation buy point.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
