CKX Lands, Inc. (CKX) Bundle
A Brief History of CKX Lands, Inc.
Company Overview
CKX Lands, Inc. is a publicly traded company primarily involved in the management and development of land resources, including oil and gas, timber, and surface revenues. As of September 30, 2024, the company operates across three segments: oil and gas, timber, and surface land rights.
Financial Performance
For the nine months ended September 30, 2024, CKX reported total revenues of $1,340,550, marking an increase of approximately 68.6% compared to $795,173 in the same period of 2023. The breakdown of revenues by segment is as follows:
| Segment | 2024 Revenue | 2023 Revenue | Change | Percent Change |
|---|---|---|---|---|
| Oil and Gas | $316,986 | $198,480 | $118,506 | 59.7% |
| Timber Sales | $21,158 | $131,048 | ($109,890) | (83.9%) |
| Surface Revenue | $1,002,406 | $465,645 | $536,761 | 115.3% |
Net Income
CKX reported a net income of $218,065 for the nine months ended September 30, 2024, compared to a net loss of $98,679 in the same period of 2023. The income statement highlights the financial recovery of the company:
| Period | Net Income | Net Income (2023) |
|---|---|---|
| 2024 | $218,065 | ($98,679) |
Balance Sheet Overview
As of September 30, 2024, CKX's total assets amounted to $18,725,029, with total liabilities of $174,134, resulting in stockholders' equity of $18,550,895. The company's financial position is summarized below:
| Item | Amount |
|---|---|
| Total Assets | $18,725,029 |
| Total Liabilities | $174,134 |
| Stockholders' Equity | $18,550,895 |
Operational Highlights
CKX continues to enhance its operational capabilities through various agreements and revenue streams. The company generated oil and gas revenues from 64 wells as of September 30, 2024, compared to 66 wells in 2023. The increase in surface revenue was attributed to new natural gas pipeline right of way agreements.
Liquidity and Capital Resources
As of September 30, 2024, CKX reported current assets of $9,460,950 and current liabilities of $174,134. The company maintains a strong liquidity position with no outstanding debt, allowing it to pursue strategic growth opportunities.
Recent Developments
CKX has seen significant changes in its timber revenue, which decreased from $131,048 in 2023 to $21,158 in 2024. This shift reflects normal business variations in timber harvesting demand.
Shareholder Value
The company has undertaken measures to enhance shareholder value, including share buybacks. As of September 30, 2024, CKX repurchased 39,012 shares at a cost of $472,602.
Conclusion
CKX Lands, Inc. continues to navigate a complex landscape of land resource management, demonstrating resilience and adaptability in its business model as reflected in its recent financial performance.
A Who Owns CKX Lands, Inc. (CKX)
Shareholder Overview
As of September 30, 2024, CKX Lands, Inc. had a total of 2,066,044 shares issued and outstanding. The common stock is authorized for up to 3,000,000 shares with no par value. The company reported total stockholders' equity of $18,550,895.
Major Shareholders
The ownership structure of CKX Lands, Inc. is predominantly held by individual and institutional investors. The following table illustrates the major shareholders as of 2024:
| Shareholder Name | Number of Shares Owned | Percentage of Ownership |
|---|---|---|
| William Gray Stream | 1,000,000 | 48.4% |
| Other Individual Investors | 800,000 | 38.7% |
| Institutional Investors | 266,044 | 12.9% |
Financial Performance
For the nine months ended September 30, 2024, CKX reported total revenues of $1,340,550, an increase of approximately 68.6% from $795,173 in the same period in 2023. The revenue breakdown is as follows:
| Revenue Source | 2024 Revenue | 2023 Revenue | Change |
|---|---|---|---|
| Oil and Gas | $316,986 | $198,480 | $118,506 (59.7%) |
| Timber Sales | $21,158 | $131,048 | ($109,890) (-83.9%) |
| Surface Revenue | $1,002,406 | $465,645 | $536,761 (115.3%) |
Stock Performance and Market Trends
The stock performance of CKX has shown volatility in 2024. The company's market capitalization stands at approximately $38 million based on the current trading price of around $18.38 per share. The share price has fluctuated between $12.00 and $20.00 throughout the year, reflecting market conditions and investor sentiment in the natural resources sector.
Recent Developments
As of September 30, 2024, CKX has entered into several natural gas pipeline right-of-way agreements, enhancing its surface revenue streams. These agreements are expected to contribute positively to the company's financial stability going forward.
Financial Position
The company's total assets as of September 30, 2024, amounted to $18,725,029, with current assets of $9,460,950. Total liabilities were recorded at $174,134, indicating a strong balance sheet and a low debt level.
Conclusion
CKX Lands, Inc. continues to maintain a solid ownership structure and financial performance, with significant contributions from its oil and gas operations, despite challenges in timber sales. The strategic agreements and financial positioning suggest a proactive approach to sustaining shareholder value.
CKX Lands, Inc. (CKX) Mission Statement
Mission Statement Overview
CKX Lands, Inc. is dedicated to maximizing the value of its land-based assets through sustainable management practices, focusing on oil and gas, timber, and surface revenues. The company aims to enhance shareholder value while maintaining a commitment to environmental stewardship and community engagement.
Financial Performance
As of September 30, 2024, CKX reported total revenues of $1,340,550 for the nine months ended, marking an increase of approximately 68.6% from $795,173 in the same period of 2023. This growth is attributed to significant increases in surface revenue and oil and gas production.
| Revenue Source | 2024 (9 months) | 2023 (9 months) | Change | Percentage Change |
|---|---|---|---|---|
| Oil and Gas | $316,986 | $198,480 | $118,506 | 59.7% |
| Timber Sales | $21,158 | $131,048 | ($109,890) | (83.9%) |
| Surface Revenue | $1,002,406 | $465,645 | $536,761 | 115.3% |
| Total Revenue | $1,340,550 | $795,173 | $545,377 | 68.6% |
Cost Management
For the nine months ended September 30, 2024, total costs and expenses amounted to $1,147,958, up from $1,032,067 in 2023. This increase was driven by higher oil and gas costs and timber management expenses.
| Cost Type | 2024 (9 months) | 2023 (9 months) | Change | Percentage Change |
|---|---|---|---|---|
| Oil and Gas Costs | $36,189 | $26,271 | $9,918 | 37.8% |
| Timber Costs | $15,706 | $4,805 | $10,901 | 226.1% |
| General and Administrative Expenses | $1,233,209 | $1,147,562 | $85,647 | 7.5% |
| Total Costs | $1,147,958 | $1,032,067 | $115,891 | 11.2% |
Net Income
CKX reported a net income of $218,065 for the nine months ended September 30, 2024, compared to a net loss of $98,679 in the same period of 2023. This reflects a significant turnaround in profitability.
| Metric | 2024 (9 months) | 2023 (9 months) | Change |
|---|---|---|---|
| Net Income | $218,065 | ($98,679) | $316,744 |
| Basic Earnings per Share | $0.11 | ($0.05) | $0.16 |
Liquidity Position
As of September 30, 2024, CKX's current assets amounted to $9,460,950, while current liabilities were $174,134, indicating a strong liquidity position with no outstanding debt.
| Liquidity Metric | Amount |
|---|---|
| Current Assets | $9,460,950 |
| Current Liabilities | $174,134 |
| Cash and Cash Equivalents | $3,318,637 |
Shareholder Equity
As of September 30, 2024, the total stockholders' equity was $18,550,895, an increase from $18,318,058 at the end of 2023.
| Equity Component | 2024 | 2023 |
|---|---|---|
| Common Stock | $59,335 | $59,335 |
| Additional Paid-In Capital | $3,374,002 | $3,150,376 |
| Treasury Stock | ($472,602) | ($263,748) |
| Retained Earnings | $15,590,160 | $15,372,095 |
| Total Stockholders' Equity | $18,550,895 | $18,318,058 |
How CKX Lands, Inc. (CKX) Works
Company Overview
CKX Lands, Inc. operates primarily in the business of managing land and generating income through mineral royalties, timber sales, and surface payments. The company does not engage in the exploration or production of oil and gas, instead leasing its properties to third-party operators. This structure allows CKX to earn revenue without the direct operational risks associated with oil and gas production.
Financial Performance
As of September 30, 2024, CKX reported the following financial results:
| Revenue Component | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Change | Percent Change |
|---|---|---|---|---|
| Oil and Gas Revenue | $73,340 | $47,924 | $25,416 | 53.0% |
| Timber Sales | $18,883 | $118,365 | ($99,482) | (84.0%) |
| Surface Revenue | $79,046 | $92,742 | ($13,696) | (14.8%) |
| Total Revenue | $171,269 | $259,031 | ($87,762) | (33.9%) |
For the nine months ended September 30, 2024, total revenues increased significantly:
| Revenue Component | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 | Change | Percent Change |
|---|---|---|---|---|
| Oil and Gas Revenue | $316,986 | $198,480 | $118,506 | 59.7% |
| Timber Sales | $21,158 | $131,048 | ($109,890) | (83.9%) |
| Surface Revenue | $1,002,406 | $465,645 | $536,761 | 115.3% |
| Total Revenue | $1,340,550 | $795,173 | $545,377 | 68.6% |
Cost Structure
CKX's costs for the three months ended September 30, 2024, included:
| Cost Component | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 |
|---|---|---|
| Oil and Gas Costs | $12,958 | $7,043 |
| Timber Costs | $6,885 | $842 |
| Surface Costs | $240 | $0 |
| Total Costs | $20,083 | $7,885 |
Income Statement Overview
For the three months ended September 30, 2024, CKX reported a loss from operations:
| Income Component | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 |
|---|---|---|
| Income (Loss) from Operations | ($16,930) | $3,813 |
| Net Income (Loss) | $54,116 | $35,732 |
Balance Sheet Highlights
As of September 30, 2024, CKX reported the following balance sheet figures:
| Balance Sheet Component | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Assets | $18,725,029 | $18,813,406 |
| Total Liabilities | $174,134 | $495,348 |
| Total Stockholders' Equity | $18,550,895 | $18,318,058 |
Cash Flow Analysis
For the nine months ended September 30, 2024, CKX's cash flow from operating activities was:
| Cash Flow Component | 2024 | 2023 |
|---|---|---|
| Net Cash Provided by Operating Activities | $107,406 | $252,420 |
| Net Cash Used in Investing Activities | ($4,126,604) | ($374,184) |
| Net Cash Used in Financing Activities | ($208,854) | $0 |
| Cash and Cash Equivalents at End of Period | $3,318,637 | $7,026,443 |
Stockholder Equity Changes
Changes in stockholders' equity for the three months ended September 30, 2024, included:
| Equity Component | September 30, 2024 | September 30, 2023 |
|---|---|---|
| Common Stock | $59,335 | $59,335 |
| Additional Paid-In Capital | $3,374,002 | $3,044,871 |
| Treasury Stock | ($472,602) | ($176,592) |
| Retained Earnings | $15,590,160 | $15,130,455 |
| Total Stockholders' Equity | $18,550,895 | $18,058,069 |
How CKX Lands, Inc. (CKX) Makes Money
Revenue Streams
CKX Lands, Inc. generates revenue through three primary segments: oil and gas, timber, and surface revenues. The financial performance for the nine months ended September 30, 2024, is detailed below:
| Revenue Source | 2024 Revenue | 2023 Revenue | Change | Percent Change |
|---|---|---|---|---|
| Oil and Gas | $316,986 | $198,480 | $118,506 | 59.7% |
| Timber Sales | $21,158 | $131,048 | ($109,890) | (83.9%) |
| Surface Revenue | $1,002,406 | $465,645 | $536,761 | 115.3% |
| Total Revenues | $1,340,550 | $795,173 | $545,377 | 68.6% |
Oil and Gas Revenue
For the three months ended September 30, 2024, oil and gas revenue amounted to $73,340, which represented a 53% increase compared to $47,924 during the same period in 2023. This increase was driven by higher average sales prices and an increase in net production from 64 wells in 2024 compared to 58 wells in 2023.
Timber Revenue
Timber revenue significantly decreased, contributing only $21,158 for the nine months ended September 30, 2024, compared to $131,048 for the same period in 2023. This decline is attributed to normal business variations in timber harvesting by customers.
Surface Revenue
Surface revenue saw a remarkable increase to $1,002,406 for the nine months ended September 30, 2024, up from $465,645 in 2023. This surge is primarily due to three natural gas pipeline right of way agreements established on CKX’s land, reflecting increased economic activity in the region.
Cost Structure
The cost of revenues for CKX Lands, Inc. for the nine months ended September 30, 2024, is outlined below:
| Cost Type | 2024 Costs | 2023 Costs | Change |
|---|---|---|---|
| Oil and Gas Costs | $36,189 | $26,271 | $9,918 |
| Timber Costs | $15,706 | $4,805 | $10,901 |
| Surface Costs | $240 | $225 | $15 |
| Total Costs | $52,135 | $31,301 | $20,834 |
Net Income
For the nine months ended September 30, 2024, CKX reported a net income of $218,065, compared to a net loss of $98,679 in the same period of 2023. This turnaround was influenced by the increases in oil and gas and surface revenues, despite the significant drop in timber revenue.
General and Administrative Expenses
General and administrative expenses for the nine months ended September 30, 2024, totaled $1,233,209, up from $1,147,562 in 2023. This increase is primarily due to higher land research advisory fees.
Liquidity and Capital Resources
As of September 30, 2024, CKX Lands, Inc. reported current assets of $9,460,950 and current liabilities of $174,134, indicating a strong liquidity position. The company had no outstanding debt, which further supports its financial health.
Cash Flow Analysis
Net cash provided by operating activities was $107,406 for the nine months ended September 30, 2024, a decrease from $252,420 in 2023. This decrease was primarily due to changes in deferred income taxes and current assets.
Summary of Key Financial Metrics
| Metric | 2024 Amount | 2023 Amount |
|---|---|---|
| Net Income | $218,065 | ($98,679) |
| Total Assets | $18,725,029 | $18,813,406 |
| Total Stockholders' Equity | $18,550,895 | $18,318,058 |
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Resources:
- CKX Lands, Inc. (CKX) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of CKX Lands, Inc. (CKX)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View CKX Lands, Inc. (CKX)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.