Horizon Kinetics Asset Management LLC, a significant shareholder in Texas Pacific Land Corp (NYSE:TPL), has recently bolstered its position in the company with a modest purchase of shares. On April 25, Horizon Kinetics acquired an additional 3 shares of Texas Pacific Land Corp at a price of $592.02 each, totaling approximately $1,776.
This transaction adds to Horizon Kinetics' already substantial holdings in the oil royalty trading company, demonstrating continued confidence in Texas Pacific Land Corp's performance and prospects. Following this acquisition, Horizon Kinetics' reported ownership in the company amounts to 1,084,956 shares.
Investors often keep a close eye on such purchases by major shareholders as they can indicate an insider's belief in the company's future growth. Horizon Kinetics, known for its long-term investment approach, has been a notable investor in Texas Pacific Land Corp, a company that has a significant presence in the real estate and construction sector within the oil industry.
The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission. It's worth noting that the investment firm has previously disclosed beneficial ownership of 1,271,975 shares, with additional indirect interest, as of a Schedule 13D amendment filed on February 28, 2024.
Horizon Kinetics' investment decisions are closely watched by market participants due to the firm's reputation and significant influence. The recent purchase, although relatively small in terms of the total number of shares, reaffirms Horizon Kinetics' commitment to Texas Pacific Land Corp as a key holding in its portfolio.
InvestingPro Insights
As Horizon Kinetics Asset Management LLC increases its stake in Texas Pacific Land Corp (NYSE:TPL), recent data from InvestingPro provides additional context that may interest investors. With a robust market capitalization of approximately $13.7 billion, TPL's financial health and stock performance are noteworthy. The company's impressive gross profit margin stands at 94.69% for the last twelve months as of Q1 2023, which is a clear indicator of its efficient operations and strong pricing power within its market.
Moreover, TPL's commitment to returning value to shareholders is evident through its consistent dividend payments over the past 11 years. This dedication to dividend payments, coupled with a dividend growth of 16.67% in the last twelve months, makes TPL an attractive stock for income-focused investors. In terms of stock performance, TPL has shown a strong return over the last three months, with a price total return of 19.57%.
For those considering an investment in Texas Pacific Land Corp, two InvestingPro Tips that stand out are the company's ability to hold more cash than debt on its balance sheet and its capacity to sufficiently cover interest payments with its cash flows. These factors contribute to the financial stability and resilience of the company, providing a measure of security for investors.
Interested investors can find additional InvestingPro Tips on TPL by visiting https://www.investing.com/pro/TPL. With 15 tips listed in total, these insights can offer a deeper understanding of the company's financials and market position. For those looking to access all the InvestingPro Tips, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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