Horizon Kinetics Asset Management buys $1,728 worth of shares in Texas Pacific Land

According to a recent filing, Horizon Kinetics Asset Management LLC, a significant shareholder of Texas Pacific Land Corporation (NYSE: ), has made a significant investment in the company's stock. The asset manager bought an additional stake in Texas Pacific Land Corp., further strengthening its position in the oil concession trader business.

The transaction took place on April 30, 2024 and involved the acquisition of 3 shares at a price of $576.30 per share, for a total investment of $1,728. The acquisition increases Horizon Kinetics Asset Management's total holdings in Texas Pacific Land Corp to 1,084,965 shares.

Investors often monitor the buying and selling activity of key shareholders because these transactions can demonstrate a company's confidence in a company's future performance. Details of these transactions are made public through mandatory filings with the U.S. Securities and Exchange Commission.

Horizon Kinetics Asset Management previously reported a large stake in Texas Pacific Land Corp. Equity, he has a direct interest in 2,474 shares and an indirect interest in approximately 53,550 shares. Notably, Mr. Starr does not exercise investment discretion with respect to the issuer's securities.

Horizon Kinetics Asset Management's recent acquisition is a noteworthy development for current and potential investors, providing insight into the company's investment strategy and confidence in the prospects for Texas Pacific Land's business.

Investment Professional Insights

As Horizon Kinetics Asset Management LLC strengthens its stake in Texas Pacific Land Corp (NYSE: TPL ), investors looking for a deeper understanding of the company's financial health can turn to InvestingPro for the latest data and insights. Texas Pacific Land Corp has a market capitalization of $12.93 billion, reflecting its significant position in the market. The company's gross margin was an impressive 94.69% for the trailing twelve months ended Q1 2023, demonstrating its ability to maintain high profitability relative to sales.

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One InvestingPro Tip that stands out about Texas Pacific Land Corp is its ability to maintain dividend payments for 11 years in a row, which may be a sign of the company's commitment to returning value to shareholders. Additionally, the company's stock has delivered strong returns over the past three months, with a total return of 19.54%, indicating good market momentum.

Investors should note that while Texas Pacific Land Corp has a high P/E ratio of 32.28, this may reflect the market's expectations for future growth. For those interested in exploring more insights, you can find more InvestingPro tips for Texas Pacific Land Corp on InvestingPro.Use coupon code PRONEWS24 Annual or two-year Pro and Pro+ subscriptions can enjoy an additional 10% discount, unlocking a wealth of financial data and expert analysis to inform your investment decisions.

With 15 additional InvestingPro Tips for Texas Pacific Land Corp, savvy investors can get a more complete understanding of the company's performance and potential. As Horizon Kinetics Asset Management continues to invest in Texas Pacific Land Corp, these insights could prove invaluable in assessing the company's position and the long-term viability of the investment.

This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.

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