As a result of this transaction, Horizon Kinetics owns a direct interest in 1,138,496 shares of the Dallas-based oil royalty company. The filing also indicates that beneficial ownership of Horizon Kinetics extends to 1,271,975 shares, including interests held by Murray Stahl, a key figure in the company. This transaction reflects Horizon Kinetics' continued investment in Texas Pacific Land (NYSE:) Corp, known for its significant oil and gas royalty interests. InvestPro The analysis shows that TPL maintains impressive gross profit margins of 93% and a solid return on equity of 44%, although current valuations suggest the stock may be overvalued. For detailed information and 18 additional ProTips on TPL, visit InvestPro. InvestPro The analysis shows that TPL maintains impressive gross profit margins of 93% and a solid return on equity of 44%, although current valuations suggest the stock may be overvalued. For detailed information and 18 additional ProTips on TPL, visit InvestPro.
As a result of this transaction, Horizon Kinetics owns a direct interest in 1,138,496 shares of the Dallas-based oil royalty company. The filing also indicates that beneficial ownership of Horizon Kinetics extends to 1,271,975 shares, including interests held by Murray Stahl, a key figure in the company.
This transaction reflects Horizon Kinetics' continued investment in Texas Pacific Land Corp, known for its significant oil and gas royalty interests.
In other recent news, Texas Pacific Land Corp. reported strong third-quarter 2024 earnings, with consolidated revenue reaching $174 million and adjusted EBITDA at $144 million. Significant growth was seen in oil and gas royalty production and water sales revenue, with the latter increasing 37% year-over-year thanks to improved hydraulic fracturing techniques. The company also announced a 37% increase in its quarterly dividend, to $1.60 per share.
Additionally, Texas Pacific Land Corp. should join the S&P 500, replacing Marathon Oil Corp (NYSE:). This change, reflecting the evolution of the market capitalizations of the companies concerned, should occur soon. Additionally, Texas Pacific Land Corp. recently amended its bylaws, changing meeting rules and requiring that a special meeting be called upon written request of shareholders owning at least 25% of the outstanding common stock.
In addition to these developments, Texas Pacific Land Corp. actively explores non-oil and gas revenue opportunities, including solar, wind, data centers and beneficial reuse of produced water. The company also plans to complete a desalination facility by mid-2025. Despite an 8% drop in realized oil prices and a 65% drop in prices, the company maintains a strong balance sheet with zero debt.
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