In a recent transaction, Horizon Kinetics Asset Management LLC has increased its holdings in Texas Pacific Land Corp (NYSE:TPL), an oil royalty trader, with the purchase of additional shares. The investment firm, known for its significant stakes in various companies, acquired 3 shares of Texas Pacific Land Corp at a price of $569.38 each, amounting to a total investment of $1,708.
This purchase further cements Horizon Kinetics' position in the company, as reflected in the updated ownership figures. Following this transaction, the firm now holds a total of 1,084,977 shares. The acquisition is notable as Horizon Kinetics is a ten percent owner of Texas Pacific Land Corp, indicating a substantial level of investment in the company.
It's important to note that Horizon Kinetics' interest in Texas Pacific Land Corp was previously detailed in a Schedule 13D amendment filed on February 28, 2024. The filing disclosed beneficial ownership of 1,271,975 shares by Horizon Kinetics Asset Management LLC. Additionally, Murray Stahl, associated with the firm, has a direct interest in 2,474 shares and an indirect interest in approximately 53,550 shares. However, the disclosure clarified that Stahl does not exercise investment discretion with respect to the securities of the issuer.
Investors and market watchers often look to such transactions as indicators of a firm's confidence in the company's prospects. The minimal yet strategic addition of shares by Horizon Kinetics may be interpreted as a continued endorsement of Texas Pacific Land Corp's performance and potential.
InvestingPro Insights
As Horizon Kinetics Asset Management LLC bolsters its stake in Texas Pacific Land Corp (NYSE:TPL), investors may find the following insights from InvestingPro particularly illuminating. With a Market Cap of $13.34B, Texas Pacific Land Corp stands as a notable entity in the oil royalty trading sector. The company's Gross Profit Margin impressively sits at 94.69% for the last twelve months as of Q1 2023, underscoring its efficient operational performance. Additionally, the P/E Ratio is currently at 33.04, which may suggest the market has high expectations of the company's future earnings growth.
Delving into the InvestingPro Tips, Texas Pacific Land Corp's financial health is further highlighted by its ability to hold more cash than debt on its balance sheet, a reassuring sign for investors concerned about financial stability. Moreover, the company's ability to maintain dividend payments for 11 consecutive years, coupled with a recent dividend growth of 16.67%, reflects a commitment to shareholder returns. These factors, combined with a strong return over the last three months of 15.25%, paint a picture of a company with solid financials and a potentially attractive investment profile.
For those considering a deeper dive into Texas Pacific Land Corp's financials and future prospects, InvestingPro offers a wealth of additional tips and metrics. In fact, there are 15 more InvestingPro Tips available for Texas Pacific Land Corp that could provide further guidance on investment decisions. To explore these insights, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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