Horizon Kinetics Asset Management LLC, a ten percent owner of Texas Pacific Land Corp (NYSE:TPL), disclosed a recent acquisition of shares in the company. The firm purchased 3 shares of common stock on November 22, 2024, at a price of $1,645.51 per share, totaling approximately $4,936. This transaction increased Horizon Kinetics' direct holdings to 1,138,472 shares, as noted in the filing.
The acquisition was reported by Jay Kesslen, attorney-in-fact, and was filed with the SEC on November 25, 2024. The filing also referenced a February 28, 2024, amendment to Horizon Kinetics' Schedule 13D, which detailed beneficial ownership of 1,271,975 shares, including Murray Stahl's direct and indirect interests.
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TSLA
0. Market Cap: $790.2B
TSLA
1. Analysts predict the company will be profitable this year
TSLA
2. High revenue growth over the past year
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3. Holds more cash than debt on its balance sheet
TSLA
4. Profitable over the last twelve months
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5. Liquid assets exceed short term obligations
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6. High return over the last decade
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7. Strong return over the last five years
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8. Significant return over the last week
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9. Strong return over the last month
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10. Significant return over the last three months
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11. Large price uptick over the last six months
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12. High return over the last year
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13. Cash flows can sufficiently cover interest payments
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14. Gross profit margins improving
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15. Trading at a high revenue valuation multiple
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16. Trading at a high earnings multiple
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17. Trading at a high P/E ratio relative to near-term earnings growth
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18. Trading at a high EBIT valuation multiple
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19. Trading at a high EBITDA valuation multiple
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20. Trading at a high Price / Book multiple
InvestingPro Data:
Market Cap (Adjusted) -: 790.2B USD
TSLA
P/E Ratio -: 76.25
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P/E Ratio (Adjusted) LTM2023.Q3 -: 76.25
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PEG Ratio LTM2023.Q3 -: 4.01
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Price / Book LTM2023.Q3 -: 13.78
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Revenue LTM2023.Q3 -: 96.77B USD
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Revenue Growth LTM2023.Q3 -: 27.25 %
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Revenue Growth (Quarterly) FY2023.Q3 -: 8.84 %
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Gross Profit LTM2023.Q3 -: 21.51B USD
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Gross Profit Margin LTM2023.Q3 -: 22.23 %
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Operating Income, Adjusted LTM2023.Q3 -: 10.45B USD
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Operating Income Margin LTM2023.Q3 -: 10.8 %
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EBIT LTM2023.Q3 -: 10.45B USD
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EBITDA LTM2023.Q3 -: 14.45B USD
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EBITDA Growth LTM2023.Q3 -: -3.85 %
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Basic EPS (Cont. Ops) LTM2023.Q3 -: 3.26 USD
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Diluted EPS (Cont. Ops) LTM2023.Q3 -: 3.24 USD
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Return on Assets LTM2023.Q3 -: 10.74 %
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1 Week Price Total (EPA:TTEF) Return Y2023.D342 -: 7.31 %
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1 Month Price Total Return Y2023.D342 -: 12.67 %
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3 Month Price Total Return Y2023.D342 -: 16.87 %
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6 Month Price Total Return Y2023.D342 -: 37.24 %
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YTD Price Total Return Y2023.D342 -: 101.48 %
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1 Year Price Total Return Y2023.D342 -: 103.26 %
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Price % of 52 Week High -: 85.02 %
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Price, Previous Close -: 248.48 USD
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Average Daily Volume (3m) Y2023.D342 -: 113.71M USD
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Next (LON:NXT) Earnings Date -: 2024-01-24
TSLA
Fair Value (Analyst Targets) Y2023.D342 -: 228.5 USD
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InvestingPro Fair Value -: 202.53 USD
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Tesla Inc (NASDAQ:TSLA) CEO Elon Musk sold 1,299,605 shares of the electric vehicle maker on December 13, 2023, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at an average price of $234.8 per share, for a total transaction amount of $305,327,254.
Following the sale, Musk still owns 423,622,432 shares of Tesla, valued at approximately $99.5 billion based on the current stock price. This transaction represents a small portion of Musk's overall holdings in the company.
The reason for the sale was not disclosed in the filing. However, it's worth noting that Musk has sold Tesla shares in the past for various reasons, including to cover tax obligations and to fund other ventures.
Tesla's stock has seen significant volatility in recent months, influenced by factors such as interest rates, competition in the EV market, and the company's performance. Despite these challenges, Tesla remains a leader in the electric vehicle industry and continues to expand its production capacity globally.
Investors and analysts will likely be watching closely to see if this sale signals any shift in Musk's confidence in the company or if it's simply part of his personal financial management strategy.
In other recent news, Texas Pacific Land Corporation has reported significant developments. The corporation recently amended its bylaws, changing the rules for calling special meetings, and aligning with its Third Amended and Restated Bylaws. These changes were approved by the Board of Directors and stockholders, following the Annual Meeting of Stockholders. Additionally, the company confirmed the election of six directors and ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for 2024.
In terms of financial performance, Texas Pacific Land Corporation disclosed robust Q3 2024 earnings. The company's consolidated revenues reached $174 million, and adjusted EBITDA was reported at $144 million. This growth was largely attributed to a 37% year-over-year increase in water sales revenues and strategic acquisitions in the Permian Basin. Furthermore, the company announced a 37% increase in its quarterly dividend to $1.60 per share.
Looking ahead, Texas Pacific Land Corporation is on track to complete a desalination facility by mid-2025 and is exploring non-oil and gas revenue opportunities. These recent developments underline the company's commitment to diversification and growth.
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