In a recent transaction, Horizon Kinetics Asset Management LLC, a significant shareholder in Texas Pacific Land Corp (NYSE:TPL), has increased its stake in the company through the purchase of additional shares. The investment firm bought 3 shares of Texas Pacific Land Corp at a price of $604.85 per share, amounting to a total investment of approximately $1,814.
This transaction, dated May 16, 2024, was disclosed in a Form 4 filing with the Securities and Exchange Commission. Following this purchase, Horizon Kinetics Asset Management LLC's total holdings in Texas Pacific Land Corp have reached 1,085,001 shares.
Texas Pacific Land Corp, with its trading symbol TPL, is known for its involvement in oil royalty trading and has a significant presence in its industry. The company is incorporated in Delaware and has its business headquarters in Dallas, Texas.
Investors often look to the buying and selling activities of significant shareholders as indicators of confidence in the company's prospects or for signs of potential strategic moves. Horizon Kinetics Asset Management LLC's recent acquisition of shares underscores its ongoing interest and stake in Texas Pacific Land Corp.
In a related footnote, it was noted that on February 28, 2024, Horizon Kinetics Asset Management LLC had filed an amendment to its Schedule 13D, indicating beneficial ownership of 1,271,975 shares. Additionally, it was mentioned that Murray Stahl, with a direct interest in 2,474 shares and an indirect interest in approximately 53,550 shares, does not exercise investment discretion with respect to the securities of the issuer.
The transaction was signed off by Jay Kesslen, acting as attorney-in-fact, on May 17, 2024. Investors and market watchers will likely follow Horizon Kinetics Asset Management LLC's investment moves closely as they evaluate the performance and future of Texas Pacific Land Corp.
InvestingPro Insights
Amid the recent share acquisition by Horizon Kinetics Asset Management LLC in Texas Pacific Land Corp (NYSE:TPL), analyzing the company's financial health and market performance can offer investors additional insights. Texas Pacific Land Corp holds a strong financial position, as indicated by its ability to maintain more cash than debt on its balance sheet. This is a positive sign for investors, suggesting a lower risk of financial distress and potential for operational flexibility.
The company's gross profit margins are also worthy of note. With a gross profit margin of 94.18% for the last twelve months as of Q1 2024, Texas Pacific Land Corp demonstrates impressive efficiency in its operations and the ability to retain a significant portion of its revenue as profit.
However, the stock is currently trading at a high earnings multiple, with a P/E ratio of 32.51, suggesting that investors are expecting high future earnings growth. The company's stock has also shown a strong return over the last three months, with a 21.03% price total return, reflecting investor confidence and market momentum.
For investors interested in further analysis and additional "InvestingPro Tips," there are 14 more tips available on InvestingPro for Texas Pacific Land Corp, which can be accessed at: https://www.investing.com/pro/TPL. Moreover, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of data and expert insights to inform their investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.