Thu Sep 26 15:02:53 UTC 2024: ## Horizon Kinetics Executives Buy Shares in Texas Pacific Land Corp, Signaling Positive Sentiment
**New York, NY** – Executives at Horizon Kinetics Asset Management LLC, a firm with a significant stake in Texas Pacific Land Corp (NYSE: TPL), recently acquired shares of the oil royalty trader, indicating positive sentiment towards the company’s future prospects.
The transactions, totaling approximately $11,270, were executed on September 25, 2024, with prices ranging from $937.52 to $944.41 per share. These purchases were made through multiple entities associated with Horizon Kinetics, including Horizon Kinetics Hard Assets LLC, Horizon Credit Opportunity Fund LP, and Horizon Common Inc.
The acquisitions were made under a Rule 10b5-1 plan, which allows insiders to pre-plan stock trades while not in possession of material non-public information.
This move comes on the heels of a strong second quarter performance for Texas Pacific Land Corp, with its Water Services and Operations segment setting records for sales revenues, volumes, and net income. The company reported consolidated revenues of $172 million, marking a 14% year-over-year growth, and diluted earnings per share of $4.98.
The recent insider purchases, combined with Texas Pacific Land Corp’s strong financial performance, could signal a positive outlook for the company. According to InvestingPro data, Texas Pacific Land Corp boasts a 93.61% gross profit margin, a $20.51 billion market capitalization, and an impressive track record of dividend payments.
Investors seeking further insight into Texas Pacific Land Corp’s financial health and potential can find additional analysis and tips on InvestingPro’s platform.
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