In a recent filing with the Securities and Exchange Commission, Texas Pacific Land Corp (NYSE:TPL) disclosed that Murray Stahl, a director of the company, executed several purchases of the company's common stock. On November 6, 2024, Stahl acquired a total of 12 shares, with transaction prices ranging from $1,319.93 to $1,342.93 per share. The total value of these purchases amounted to $15,908.
These transactions were made indirectly through various entities associated with Horizon Kinetics Asset Management LLC, where Stahl holds significant roles. The purchases were part of a pre-established trading plan under Rule 10b5-1, adopted earlier in May 2024.
The acquisitions reflect continued interest and investment in Texas Pacific Land Corp, a company engaged in oil royalty trading and real estate operations. As of the latest transaction, Stahl's indirect and direct holdings in the company have been updated in accordance with the reported stock purchases.
In other recent news, Texas Pacific Land Corporation (TPL) has reported a record-breaking quarter for its Water Services and Operations segment. The company announced consolidated revenues of approximately $172 million, a 14% year-over-year growth, and diluted earnings per share of $4.98. Furthermore, TPL's water segment set corporate records for sales revenues, volumes, and net income.
On the other side, the Public Utility Commission of Texas has shortlisted 17 gas-fired power plant projects, including NRG Energy (NYSE:NRG), Vistra, Constellation, NextEra, and GE Vernova, for a share of $5.38 billion in government funding. This is part of a new program to encourage the development of natural gas electricity generation facilities. The projects that have advanced to the next phase represent nearly 10,000 megawatts in power generation capacity.
These are recent developments in the energy sector. TPL's strong performance in the water segment and the government funding for natural gas electricity generation facilities are crucial updates for investors. However, it is essential to note that these developments are based on the company's recent announcements and analyst notes, and not on any speculation or subjective assessment.
InvestingPro Insights
Murray Stahl's recent purchases of Texas Pacific Land Corp (NYSE:TPL) shares align with several positive indicators highlighted by InvestingPro. The company's impressive financial performance is evident in its gross profit margin of 93.26% for the last twelve months as of Q3 2024, reflecting strong operational efficiency. This aligns with an InvestingPro Tip noting TPL's "impressive gross profit margins."
The stock's recent performance has been remarkable, with a 34.91% price total return over the past month and a staggering 137.37% return over the last six months. This strong momentum is captured in another InvestingPro Tip, which points out the "significant return over the last week" and that TPL is "trading near 52-week high."
However, investors should be aware that TPL is trading at a high valuation, with a P/E ratio of 65.55 and a price-to-book ratio of 27.98 as of the last twelve months ending Q3 2024. This is consistent with the InvestingPro Tip indicating that TPL is "trading at a high earnings multiple."
For those interested in a deeper analysis, InvestingPro offers 20 additional tips for TPL, providing a comprehensive view of the company's financial health and market position. These insights can be valuable for investors considering following director Murray Stahl's lead in acquiring TPL shares.
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