Horizon Kinetics acquires shares in Texas Pacific Land Corp

Horizon Kinetics Asset Management LLC, a significant shareholder in Texas Pacific Land Corp (NYSE:TPL), recently reported the acquisition of additional shares in the company. According to a recent SEC filing, Horizon Kinetics purchased one share of Texas Pacific Land Corp’s common stock at a price of $1,359.18. The stock, which has delivered an impressive 180.9% return over the past year according to InvestingPro data, currently trades at $1,376.9. This transaction brings their total ownership to approximately 1,166,994 shares.

Horizon Kinetics, which is known for its strategic investments, continues to hold a substantial position in Texas Pacific Land Corp, reflecting its ongoing interest in the company. The asset management firm, headquartered in New York, manages investments across various sectors, including energy and transportation.

In other recent news, Terra Property Trust has extended its revolving line of credit with Western Alliance (NYSE:WAL) Bank until June 30, 2025. The amendment introduces a requirement for monthly principal payments, representing a strategic financial move to ensure continued access to capital. The specifics of the principal payment adjustments will be further outlined in Terra Property Trust’s forthcoming Quarterly Report.

Meanwhile, Texas Pacific Land Corp is set to join the S&P 500, replacing Marathon Oil Corp (NYSE:MRO). This development comes as Marathon Oil is being acquired by ConocoPhillips (NYSE:COP). Texas Pacific Land’s step up to the S&P 500 reflects its increasing market capitalization.

In other developments, Texas Pacific Land Corp has made significant amendments to its corporate governance structure. The adjustments, which took effect immediately, now require a special meeting to be called upon the written request of stockholders owning at least 25% of the outstanding common stock. This change is in line with the newly adopted Third Amended and Restated Bylaws. Additionally, stockholders approved executive compensation for named executive officers and ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024.

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