In a recent transaction, Horizon Kinetics Asset Management LLC has increased its holdings in Texas Pacific Land Corp (NYSE:TPL) by purchasing additional shares. On May 24, 2024, the investment firm bought 3 shares of the oil royalty trader at a price of $611.48 each, totaling approximately $1,834.
This acquisition adds to Horizon Kinetics' already substantial position in Texas Pacific Land Corp, as noted in the footnotes of their filing. The firm had previously reported beneficial ownership of 1,271,975 shares, with Murray Stahl, the firm's principal, having a direct interest in 2,474 shares and an indirect interest in approximately 53,550 shares. It's important to note that Mr. Stahl does not exercise investment discretion with respect to the securities of the issuer.
The buy transaction represents a continued vote of confidence from Horizon Kinetics in the Texas-based company, which is involved in oil royalty trading. The additional shares purchased have increased Horizon Kinetics' direct holdings to 1,085,019 shares in Texas Pacific Land Corp.
Investors often keep a close eye on insider purchases as they can indicate the management's belief in the company's future prospects. Transactions like these are closely watched for signs of alignment between a company's executives or significant shareholders and the ordinary shareholders' interests.
The reported transactions are filed with the Securities and Exchange Commission and are publicly available for investors' scrutiny. These transactions provide a glimpse into the investment moves of major stakeholders and can serve as a piece of the puzzle when investors assess a company's financial health and future performance.
Horizon Kinetics Asset Management LLC's latest investment move comes at a time when the market is keenly observing the activities of significant shareholders in companies, particularly in sectors like oil royalty trading, which can be sensitive to market conditions and regulatory changes.
InvestingPro Insights
As Horizon Kinetics Asset Management LLC bolsters its stake in Texas Pacific Land Corp (NYSE:TPL), investors may find the latest metrics and analysis from InvestingPro valuable in understanding the company's financial landscape. Texas Pacific Land Corp is currently trading at a high earnings multiple, with a Price/Earnings (P/E) Ratio of 32.71, reflecting investor expectations of future growth. Additionally, the company holds a strong gross profit margin of 94.18% over the last twelve months as of Q1 2024, highlighting its efficiency in generating revenue over its cost of goods sold.
Notably, Texas Pacific Land Corp has been maintaining dividend payments for over a decade, with a recent dividend yield of 0.77% and a growth of 8.0% in its last twelve months as of Q1 2024. This consistent return to shareholders exemplifies the company's financial stability and commitment to its investors. Moreover, the company has demonstrated a robust return on assets, standing at 39.15% over the last twelve months as of Q1 2024, indicating effective management in utilizing its assets to generate profits.
For investors interested in a deeper dive into Texas Pacific Land Corp's financials and future outlook, InvestingPro offers a comprehensive set of InvestingPro Tips, with 15 additional tips available to guide your investment decisions. To gain access to these insightful tips, visit https://www.investing.com/pro/TPL, and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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