Horizon Kinetics bought Texas Pacific Land Corp shares for $1,184 by Investing.com

Horizon Kinetics Asset Management LLC, a major shareholder of Texas Pacific Land Corp (NYSE:), announced a recent purchase of common stock. According to a Securities and Exchange Commission filing, Horizon Kinetics acquired one share at a price of $1,184.55, representing a total transaction value of $1,184. This latest acquisition brings the company’s total direct holdings to 1,138,392 shares in the company with a market cap of $25.7 billion. TPL has demonstrated impressive performance with a 134% year-to-date return, supported by strong fundamentals including a 93% gross profit margin.

Horizon Kinetics, a well-known investment management firm, has been recognized as a 10 percent owner of Texas Pacific Land Corp. The filing also indicates that the company has a beneficial ownership interest in a greater number of shares, as stated in the recent amendment to Schedule 13D. This includes shares with indirect interests attributable to Murray Stahl, a key figure at Horizon Kinetics. according to InvestingProTPL currently appears overvalued based on fair value analysis, with an additional 18 key insights available to subscribers.

The transaction was executed on December 17, 2024, and details were disclosed in a Form 4 filed with the Securities and Exchange Commission on December 18, 2024. TPL maintains a strong financial position, with InvestingPro The analysis shows an “outstanding” overall financial health score and consistent dividend payments for 11 consecutive years.

In other recent news, Texas Pacific Land Corp. is set to join. To the S&P 500 index, replacing it Marathon oil (NYSE:), an important development that reflects the company’s growing market value. The move comes on the heels of ConocoPhillips’ (NYSE:) acquisition of Marathon Oil. At the same time, Texas Pacific Land Corp. has made material adjustments to its corporate governance structure, including a change in meeting rules that now require a special meeting to be held upon the written request of shareholders who own at least 25% of the outstanding common stock.

On the financial front, Texas Pacific Land Corp. Reported strong earnings in the third quarter of 2024, with consolidated revenue of $174 million and adjusted EBITDA of $144 million. The company’s water sales revenue saw a 37% increase compared to last year, attributed to improved hydraulic fracturing techniques. Additionally, Texas Pacific Land Corp. reported a 37% increase in its quarterly dividend to $1.60 per share, despite an 8% decline in realized oil prices and a 65% decline in prices.

Looking to the future, the company is on track to complete a desalination facility by mid-2025, and is exploring non-oil and gas revenue opportunities, including solar, wind, data and beneficial reuse of produced water. These latest developments underscore Texas Pacific Land Corp.’s commitment. By diversification and growth.

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