Horizon Kinetics acquires $423 in Texas Pacific Land Corp (TPL) shares By Investing.com

Horizon Kinetics Asset Management LLC, a 10% owner and director of Texas Pacific Land Corp (), reported an acquisition of common stock in the company, according to a recent SEC Form 4 filing. The investment firm purchased a total of $423 worth of shares on July 24, 2026.

The transaction involved the purchase of 1 common share at a price of $423.94 per share. Following this transaction, Horizon Kinetics Asset Management LLC beneficially owns 3,263,683 shares of Texas Pacific Land Corp. The purchase comes as TPL shares have delivered a 46% return year-to-date, though the stock currently trades above its InvestingPro Fair Value, placing it on the Most Overvalued list. The company maintains impressive gross profit margins of 93% and carries a “GREAT” financial health score according to InvestingPro metrics. This ownership figure represents the pecuniary interest of Horizon Kinetics Asset Management LLC, which had previously reported beneficial ownership of 10,109,933 shares in an amendment to its Schedule 13D filing on May 7, 2026.

In other recent news, Texas Pacific Land Corp reported strong financial results for the first quarter of 2026, surpassing expectations with an earnings per share of $2.07 compared to the forecasted $1.95. The company’s revenue also exceeded estimates, reaching $236.8 million against the anticipated $235.5 million. Additionally, Texas Pacific Land announced a significant agreement with Chevron U.S.A. Inc. to supply land and brackish water for Project Kilby, a large-scale power generation facility in Reeves County, Texas. This agreement included cash consideration and exclusive rights to source aquifer-derived water for the project. Texas Capital Securities maintained a Buy rating on the company’s stock with a price target of $440, following the Chevron deal. Meanwhile, KeyBanc reiterated its Overweight rating and set a $639 price target on Texas Pacific Land shares, highlighting a positive outlook on the company’s water business. Trading activity in Texas Pacific Land options also surged, with a notable increase in call volume. These developments reflect ongoing investor interest and strategic partnerships for Texas Pacific Land.

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