Following this transaction, Horizon Kinetics holds a direct ownership of 1,138,496 shares in the Dallas-based oil royalty company. The filing also notes that Horizon Kinetics' beneficial ownership extends to 1,271,975 shares, including interests held by Murray Stahl, a key figure in the firm. This transaction reflects Horizon Kinetics' ongoing investment in Texas Pacific Land (NYSE:TPL) Corp, which is known for its substantial holdings in oil and gas royalties. InvestingPro analysis shows TPL maintains impressive gross profit margins of 93% and a strong 44% return on equity, though current valuations suggest the stock may be overvalued. For detailed insights and 18 additional ProTips about TPL, visit InvestingPro. InvestingPro analysis shows TPL maintains impressive gross profit margins of 93% and a strong 44% return on equity, though current valuations suggest the stock may be overvalued. For detailed insights and 18 additional ProTips about TPL, visit InvestingPro.
Following this transaction, Horizon Kinetics holds a direct ownership of 1,138,496 shares in the Dallas-based oil royalty company. The filing also notes that Horizon Kinetics' beneficial ownership extends to 1,271,975 shares, including interests held by Murray Stahl, a key figure in the firm.
This transaction reflects Horizon Kinetics' ongoing investment in Texas Pacific Land Corp, which is known for its substantial holdings in oil and gas royalties.
In other recent news, Texas Pacific Land Corp. reported strong Q3 2024 earnings, with consolidated revenues reaching $174 million and adjusted EBITDA at $144 million. Significant growth was seen in oil and gas royalty production and water sales revenues, the latter increasing by 37% year-over-year due to improved fracking techniques. The company also announced a 37% increase in its quarterly dividend to $1.60 per share.
Further, Texas Pacific Land Corp. is set to join the S&P 500, replacing Marathon Oil Corp (NYSE:MRO). This change, reflecting the evolving market capitalizations of the companies involved, is expected to occur soon. In addition, Texas Pacific Land Corp. recently amended its bylaws, changing meeting rules and requiring a special meeting to be called upon the written request of stockholders owning at least 25% of the outstanding common stock.
In addition to these developments, Texas Pacific Land Corp. is actively exploring non-oil and gas revenue opportunities, including solar, wind, data centers, and the beneficial reuse of produced water. The company also plans to complete a desalination facility by mid-2025. Despite an 8% decline in realized oil prices and a 65% drop in natural gas prices, the company maintains a strong balance sheet with zero debt.
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