Horizon Kinetics Asset Management buys $1,763 worth of Texas Pacific Land stock

Horizon Kinetics Asset Management LLC, a significant shareholder in Texas Pacific Properties (NYSE: ), reported purchasing an additional stake in the company. According to the latest filing, the investment firm acquired three shares of common stock at a price of $587.81 per share, for a total of approximately $1,763.

The transaction, which took place on April 23, 2024, increases Horizon Kinetics Asset Management’s holding in oil concession trader Texas Pacific Land Corp. The company, known for its investments in the real estate and construction sectors, has been a well-known player in the market, with a strong interest in Texas Pacific Land Corp.

The acquisition further solidifies Horizon Kinetics Asset Management's position as a 10% shareholder in Texas Pacific Land Corp. Notably, this figure includes the beneficial ownership of 1,271,975 shares mentioned in Horizon Kinetics Asset Management's Schedule 13D amendment filed on February 28, 2024. direct and indirect interests that are outside the investment discretion exercised by Horizon Momentum Asset Management.

The deal was signed on April 24, 2024 by attorney-in-fact Jay Kesslen.

Investors often monitor the buying and selling activity of key shareholders as an indicator of their confidence in a company's future performance. Such trades can provide insight into how institutional investors view a stock's valuation and potential.

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Investment Professional Insights

As Texas Pacific Land Corp (NYSE: TPL ) continues to attract the attention of major investors like Horizon Kinetics Asset Management, a look at some key financial metrics and InvestingPro Tips can provide a deeper understanding of the company's current market position. Texas Pacific Properties' gross profit margin for the past 12 months as of the first quarter of 2023 was as high as 94.69%, demonstrating its strong ability to control costs and maximize operating income. This is particularly noteworthy in the areas of oil royalty trading and real estate, where efficient operations can significantly impact profitability.

Although revenue growth fell slightly -5.37% during the same period, the company showed resilience, with quarterly revenue growing 9.14% in the first quarter of 2023. In addition, Texas Pacific Land Corp's market capitalization is as high as $13.5 billion, reflecting investor confidence in the company's value and long-term prospects.

In InvestingPro Tips, Texas Pacific Land Corp is known for trading on a high price-to-earnings ratio, with a price-to-earnings ratio of 33.3 and an adjusted price-to-earnings ratio of 33.42 in the trailing 12 months to the first quarter of 2023. Volatility, which may appeal to investors looking for a more stable equity investment. In addition, the company's ability to maintain dividend payments for 11 consecutive years, with a dividend yield of 0.79% as of the 115th day of 2024, also reflects its commitment to shareholder returns.

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For investors seeking additional insights and tips, Texas Pacific Land Corp offers additional InvestingPro Tips, which can be accessed by visiting https://www.investing.com/pro/TPL.Additionally, users can use coupon codes to enjoy exclusive offers PRONEWS24 Annual or biennial Pro and Pro+ subscriptions receive an additional 10% discount. This offer not only provides rich financial data and analysis, but also includes a total of 15 InvestingPro tips to guide your investment decisions regarding Texas Pacific Land Corp.

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