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Texas Pacific Land Corp (NYSE:TPL), a $29.85 billion market cap company with impressive gross profit margins of 93.47%, recently witnessed a series of stock acquisitions by Horizon Kinetics Asset Management LLC and its affiliates, as detailed in a recent SEC filing. The transactions, executed on March 20, 2025, involved the purchase of a total of 10 shares of common stock at prices ranging from $1,370 to $1,374.63 per share. The aggregate value of these transactions amounted to approximately $13,704.
The purchases were made under various ownership accounts, including Horizon Kinetics Hard Assets, Horizon Credit Opportunity (SO:FTCE11B) Fund LP, and Polestar (NASDAQ:PSNY) Offshore Fund Ltd, among others. Notably, Murray Stahl, who serves as Chairman, CEO, and CIO of Horizon Kinetics, is listed as a director of Texas Pacific Land Corp. However, the filing notes that Mr. Stahl does not exercise investment discretion over these securities. According to InvestingPro analysis, TPL currently trades at a P/E ratio of 67.33 and has shown strong momentum with a 24.15% return year-to-date.
These transactions were carried out under a Rule 10b5-1 plan, which was adopted on November 21, 2024. The filing highlights that Horizon Kinetics Asset Management LLC had previously reported beneficial ownership of over 3.5 million shares in an amendment to its Schedule 13D, filed in December 2024. Mr. Stahl’s direct and indirect interests were also noted, although he disclaims beneficial ownership except for his pecuniary interest. InvestingPro rates TPL’s overall financial health as "GREAT" with a score of 3.19, offering additional insights through its comprehensive Pro Research Report, available to subscribers.
In other recent news, Texas Pacific Land Corporation reported impressive financial results for the fourth quarter of 2024, exceeding analysts’ expectations. The company achieved earnings per share of $5.14, surpassing the anticipated $4.84, while revenue reached $185.78 million, well above the forecasted $166.81 million. The company also reported a record free cash flow of $461 million for the year, highlighting its strong financial position with zero debt and $370 million in cash reserves. Additionally, Texas Pacific Land Corp is exploring mergers and acquisitions in Permian minerals, royalties, water, and surface assets, aiming to leverage synergies in its operational areas. Analysts have noted the company’s strategic focus on infrastructure development and asset acquisition as positive indicators for future growth. The firm’s efforts in water desalination and beneficial reuse are progressing, with a new facility under construction expected to be completed mid-year. Texas Pacific Land Corp also announced a 37% increase in its regular dividend to $1.60 per share, reflecting confidence in its financial stability and growth prospects.
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