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In a recent filing with the Securities and Exchange Commission, Horizon Kinetics Asset Management LLC and its Chairman Murray Stahl reported a series of stock purchases involving Texas Pacific Land Corp (NYSE:TPL), a company currently valued at $30.2 billion with impressive gross profit margins of 93.5%. The transactions, which took place on March 27, 2025, totaled $13,636.
The purchases included several acquisitions of Texas Pacific Land Corp’s common stock, with prices ranging from $1,347.42 to $1,365.46 per share. According to InvestingPro analysis, TPL appears overvalued at current levels, despite delivering a remarkable 134.7% return over the past year. These transactions reflect Horizon Kinetics’ ongoing investment activities in the company, with shares acquired across different ownership structures, including Horizon Kinetics Hard Assets and Horizon Credit Opportunity (SO:FTCE11B) Fund LP.
The filing also highlights the indirect ownership nature of these acquisitions, with a significant portion managed by Horizon Kinetics Asset Management LLC. Murray Stahl, while serving as Chairman and CEO, does not participate in the investment decisions related to these securities. The transactions were executed under a Rule 10b5-1 plan, adopted in November 2024.
This series of transactions adds to Horizon Kinetics’ substantial holdings in Texas Pacific Land Corp, underscoring its continued interest in the oil royalty trading sector.
In other recent news, Texas Pacific Land Corporation reported impressive financial outcomes for the fourth quarter of 2024, surpassing analysts’ expectations. The company achieved earnings per share of $5.14, exceeding the forecasted $4.84, and reported revenue of $185.78 million, which was above the anticipated $166.81 million. Texas Pacific Land Corp also posted a record free cash flow of $461 million for the year, marking an 11% increase year-over-year. The company maintained a strong balance sheet with zero debt and $370 million in cash, positioning itself well for future growth opportunities.
Looking forward, Texas Pacific Land Corp plans to target a $700 million cash balance and intends to increase its regular dividend by 37% to $1.60 per share. The company is exploring mergers and acquisitions in Permian minerals, royalties, water, and surface assets. Additionally, Texas Pacific Land Corp is advancing its efforts in produced water desalination and beneficial reuse projects, with plans to complete a 10,000 barrel per day test facility by mid-year.
Analysts have noted the company’s strategic focus on infrastructure development and asset acquisition in the Permian Basin, which may enhance its growth prospects. The company reported a significant increase in oil and gas royalty production, water sales volumes, and produced water royalty volumes for 2024. These recent developments reflect Texas Pacific Land Corp’s effective management and strategic initiatives, marking a significant improvement compared to previous quarters.
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