Following this transaction, Horizon Kinetics holds 1,167,967 shares of Texas Pacific Land (NYSE:TPL) Corp directly. Horizon Kinetics, a significant shareholder with over 10% ownership in the $31.82 billion market cap company, is known for its substantial stake in Texas Pacific Land Corp. The firm had previously reported beneficial ownership of 3,578,173 shares, according to an amended Schedule 13D filed on December 18, 2024. This includes a direct interest of Murray Stahl in 7,848 shares and an indirect interest in approximately 156,083 shares. However, Mr. Stahl does not have investment discretion over the issuer's securities. For deeper insights into TPL's valuation and 20 additional key metrics, explore the comprehensive Pro Research Report available on InvestingPro. Following this transaction, Horizon Kinetics holds 1,167,967 shares of Texas Pacific Land Corp directly.
Horizon Kinetics, a significant shareholder with over 10% ownership, is known for its substantial stake in Texas Pacific Land Corp. The firm had previously reported beneficial ownership of 3,578,173 shares, according to an amended Schedule 13D filed on December 18, 2024. This includes a direct interest of Murray Stahl in 7,848 shares and an indirect interest in approximately 156,083 shares. However, Mr. Stahl does not have investment discretion over the issuer's securities.
In other recent news, Texas Pacific Land Corporation has experienced significant developments. The company reported robust Q3 2024 earnings, featuring substantial growth in oil and gas royalty production and water sales revenues. The consolidated revenues reached $174 million, and adjusted EBITDA was reported at $144 million. The company's water sales revenues saw a 37% year-on-year increase, primarily due to enhanced fracking techniques.
Furthermore, Texas Pacific Land Corporation is set to join the S&P 500, replacing Marathon Oil Corp (NYSE:MRO). This move follows Marathon Oil's acquisition by ConocoPhillips (NYSE:COP) and reflects the evolving market capitalizations of the involved companies.
In addition to these financial developments, Texas Pacific Land has also made significant amendments to its corporate governance structure. The company now requires a special meeting to be called upon the written request of stockholders owning at least 25% of the outstanding common stock.
Looking ahead, the company is on track to complete a desalination facility by mid-2025 and is exploring non-oil and gas revenue opportunities, including solar, wind, data centers, and the beneficial reuse of produced water. These developments underscore Texas Pacific Land's commitment to diversification and growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.