Fed’s Powell opens door to potential rate cuts at Jackson Hole
On April 7, 2025, Horizon Kinetics Asset Management LLC reported multiple acquisitions of Texas Pacific Land Corp (NYSE:TPL) common stock, totaling $12,484. The transactions were conducted at prices ranging from $1,016.48 to $1,112.14 per share. According to InvestingPro data, TPL's stock has experienced a significant 14.7% decline over the past week, though it maintains an impressive 103% return over the past year.
The purchases were made under a Rule 10b5-1 plan adopted on November 21, 2024, which allows insiders to set up a trading plan for selling stocks they own. These transactions reflect shares acquired by various entities associated with Horizon Kinetics, including Horizon Kinetics Hard Assets and Horizon Credit Opportunity (SO:FTCE11B) Fund LP, among others. The company demonstrates strong financial health with an impressive 93.5% gross profit margin and has maintained dividend payments for 12 consecutive years.
Murray Stahl, a director at Texas Pacific Land Corp and Chairman and CEO of Horizon Kinetics, is indirectly involved in these transactions. However, Stahl does not exercise investment discretion over these securities, as clarified in the footnotes of the filing. The transactions were part of a broader strategy, with Horizon Kinetics previously noting beneficial ownership of over 3.5 million shares of Texas Pacific Land Corp. For comprehensive analysis of TPL's valuation and 16 additional key insights, visit InvestingPro, where you'll find detailed research reports and expert financial analysis.
In other recent news, Texas Pacific Land Corporation reported impressive financial results for the fourth quarter of 2024, surpassing analysts' expectations. The company achieved earnings per share of $5.14, outperforming the projected $4.84. Revenue also exceeded forecasts, reaching $185.78 million compared to the anticipated $166.81 million. Texas Pacific Land Corp reported a record free cash flow of $461 million for the year and maintained a strong balance sheet with zero debt and $370 million in cash. The company is exploring potential mergers and acquisitions, particularly in Permian minerals, royalties, water, and surface assets, to leverage synergies with its existing infrastructure. Analysts have noted the company's strategic focus on developing infrastructure and acquiring assets in the Permian Basin as a positive move for future growth. Additionally, Texas Pacific Land Corp plans to increase its regular dividend by 37% to $1.60 per share. The firm's strategic initiatives and robust operational performance have positioned it well for continued success.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.