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Horizon Kinetics buys $378 in Texas Pacific Land Corp stock By Investing.com
- Investing
Ramit Sethi- 3 minutes read
Horizon Kinetics Asset Management LLC, a 10% owner and director of Texas Pacific Land Corp (), acquired common stock in the company on September 9, 2026, according to a recent SEC Form 4 filing.
The asset management firm purchased 1 share of common stock at a price of $378.57 per share, totaling $378 for the transaction. The purchase price came in slightly above the current stock price of $370.50, with TPL carrying a market capitalization of $25.49 billion and trading at a P/E ratio of 46.94. Following this acquisition, Horizon Kinetics Asset Management LLC directly holds 3,390,843 shares of Texas Pacific Land Corp common stock.
This figure represents Horizon Kinetics Asset Management LLC’s pecuniary interest in the shares. The firm had previously reported beneficial ownership of 10,109,933 shares in an amendment to its Schedule 13D filing on May 7, 2026. According to InvestingPro analysis, TPL currently appears overvalued relative to its Fair Value. Investors seeking deeper insights can access TPL’s comprehensive Pro Research Report, one of 1,400+ available reports transforming complex data into actionable intelligence.
In other recent news, Texas Pacific Land reported its second-quarter 2026 earnings, which fell short of Wall Street expectations on both profit and revenue. The company posted earnings per share of $2.23, missing the forecast of $2.28. Revenue reached $246.1 million, which was below the estimated $255.5 million, despite being a record quarterly revenue for the company. Adjusted EBITDA rose to $216 million, demonstrating a strong operating leverage with an 88% margin. The company also noted a 31% increase in revenue from the previous year and a 20% year-over-year rise in oil and gas royalty production, averaging 39,700 barrels of oil equivalent per day. Produced water royalty volumes reached a record 4.9 million barrels per day, driven by increasing demand for pore space. Additionally, Texas Pacific Land is expanding into data center, power, and water infrastructure, with 25 gigawatts of projects currently in advanced discussions. These developments highlight the company’s strategic focus on diversifying its revenue streams and leveraging its land-based infrastructure opportunities.
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