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Texas Pacific Land Corp (NYSE:TPL), currently valued at $31.2 billion with an impressive gross profit margin of 93.5%, recently saw a series of stock purchases by Horizon Kinetics Asset Management LLC and Murray Stahl, as detailed in a recent SEC filing. On March 19, 2025, Horizon Kinetics and Stahl collectively acquired shares totaling $13,523. The shares were purchased at prices ranging from $1,350 to $1,373.67 per share. According to InvestingPro analysis, TPL is currently trading above its Fair Value.
The transactions involved a mix of direct and indirect ownership across various funds and entities associated with Horizon Kinetics. The purchases were made under a Rule 10b5-1 plan adopted in November 2024, allowing for pre-scheduled trades. As of the filing, Horizon Kinetics Asset Management LLC reported beneficial ownership of over 3.5 million shares, reflecting its significant stake in Texas Pacific Land Corp. The stock has shown remarkable strength with a 150% return over the past year.
Murray Stahl, who serves as the Chairman, CEO, and Chief Investment Officer of Horizon Kinetics, holds a direct interest in 7,848 shares and an indirect interest in approximately 156,083 shares. However, Stahl does not exercise investment discretion over the securities of Texas Pacific Land Corp.
These acquisitions highlight the continued interest and investment by Horizon Kinetics in Texas Pacific Land Corp, a company engaged in oil royalty trading.
In other recent news, Texas Pacific Land Corporation reported impressive financial results for the fourth quarter of 2024, outperforming analysts’ expectations. The company achieved earnings per share of $5.14, surpassing the forecasted $4.84, and reported revenue of $185.78 million, exceeding the anticipated $166.81 million. Texas Pacific Land Corp also noted 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 has announced plans to target a $700 million cash balance and increase its regular dividend by 37% to $1.60 per share. Additionally, Texas Pacific Land Corp is exploring mergers and acquisitions opportunities in the Permian Basin, focusing on minerals, royalties, water, and surface assets. Despite these positive developments, the company’s stock price remained stable in after-hours trading. The company is also advancing its produced water desalination and beneficial reuse projects, with a 10,000 barrel per day test facility expected to be completed mid-year. Analysts are optimistic about the company’s future growth prospects, particularly in the Permian Basin, where new permits have increased significantly.
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