Texas Pacific Land Corp sees insider buying reach $16,838 via Investing.com
In a recent disclosure with the Securities and Exchange Commission, Texas Pacific Land Corp (NYSE: ) reported a series of insider purchases by key stakeholders. The transaction, which occurred on November 12, 2024, involved the acquisition of shares of common stock at prices ranging from $1,394.74 to $1,406.05, amounting to $16,838.
Murray Stahl, a director at Texas Pacific Land Corp, and Horizon Kinetics Asset Management LLC, were the primary reporting owners in the transaction. The purchase was made under the Rule 10b5-1 system, which was adopted on May 14, 2024, which allows for organized trading of the company’s stock.
The transaction reflects the continued interest in Texas Pacific Land Corp by its insiders, with shares acquired through various entities, including Horizon Kinetics Hard Assets LLC, Horizon Credit. An opportunity (SO:) Fund LP, and Polestar (NASDAQ:) Offshore Fund Ltd, among others. Since the latest filing, this transaction has increased the total number of shares held by the reporting entities, highlighting their continued commitment to the company’s growth and prospects in the oil profit trading sector.
In other recent news, Texas Pacific Land Corporation reported Q3 2024 earnings, with significant growth in the oil and gas giant’s production and water sales revenue. The company’s consolidated revenue reached $174 million, and adjusted EBITDA was reported at $144 million. Notably, TPL’s water sales revenue increased by 37% year-on-year, largely due to improved fraud methods. The company also announced a 37% increase in its quarterly dividend to $1.60 per share. In addition to these outstanding financial indicators, TPL has made important changes to its corporate governance system, which requires a special meeting to be called at the written request of shareholders who own at least 25% of the outstanding common stock. These changes, approved by the company’s board and its shareholders, are in line with the recently adopted Third Amended and Restated bylaws. Strategic acquisitions in the Permian Basin and record increases in oil and gas production are among TPL’s recent developments. Looking ahead, TPL is on track to complete the desalination plant by mid-2025 and is exploring non-oil and gas opportunities, including solar, wind, data centers, and beneficial reuse of produced water. These developments underscore TPL’s commitment to diversification and growth.
InvestingPro Insights
People’s recent buying of Texas Pacific Land Corp (NYSE:TPL) is consistent with several positive indicators highlighted by InvestingPro. The company’s shares have shown impressive performance, with a total return of 159.47% over the past year and an impressive 173.6% year-to-date return. This strong momentum is also evidenced by the stock trading at 96.78% of its 52-week high, which raises investor confidence in TPL’s value proposition.
InvestingPro Tips points out that TPL has maintained its dividend for 11 consecutive years, while the annual dividend yield This commitment to shareholder returns is accompanied by insider buying activity, which may reflect management’s positive view of the company’s financial health and future prospects.
In addition, TPL has impressive gross profit margins, with recent data showing a gross profit margin of 93.27% in the last twelve months from Q3 2024. This extraordinary profit is accompanied by a strong operating income ratio of 77.28% during the same period, underscoring the performance well of the company in the oil profit trading sector.
It is worth noting that although TPL shows strong financial performance, it trades at a high P/E ratio of 70.84, which may indicate that the stock is overpriced. Investors considering TPL should weigh these valuation metrics against the company’s growth prospects and market conditions.
For those looking for a comprehensive analysis, InvestingPro offers 20 additional TPL tips, which provide in-depth information about the company’s financial health and market conditions.
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