Horizon Kinetics acquires $369 in Texas Pacific Land (NYSE:TPL) stock By Investing.com

Horizon Kinetics Asset Management LLC, a significant shareholder and director of Texas Pacific Land Corp. (), recently reported an acquisition of common stock.

On September 1, 2026, Horizon Kinetics acquired 1 share of Texas Pacific Land common stock at a price of $369.1 per share. This transaction totaled $369. The stock currently trades at $366.40, with a market capitalization of $25.26 billion. According to InvestingPro analysis, TPL appears overvalued at current levels, though the company maintains impressive financial strength with more cash than debt on its balance sheet—one of 14 key InvestingPro Tips available to subscribers, along with comprehensive Pro Research Reports.

Following this reported transaction, Horizon Kinetics Asset Management LLC directly holds 3,242,743 shares of Texas Pacific Land Corp. This updated ownership figure reflects a reduction of 1,279 shares that were delivered without consideration as part of a client in-kind redemption. The firm had previously reported beneficial ownership of 10,109,933 shares in an amended Schedule 13D filing on May 7, 2026.

In other recent news, Texas Pacific Land reported its second-quarter 2026 earnings, which did not meet Wall Street expectations for both profit and revenue. The company posted earnings per share of $2.23, falling short of the $2.28 forecast, and reported revenue of $246.1 million, which was below the $255.5 million estimate. Despite missing estimates, Texas Pacific Land achieved record quarterly revenue, adjusted EBITDA, and free cash flow. Revenue increased by 31% from the previous year, reaching $246 million, while adjusted EBITDA rose to $216 million with an 88% margin. The company experienced growth in oil and gas royalty production, averaging 39,700 barrels of oil equivalent per day, marking a 20% increase year over year. Produced water royalty volumes also hit a record 4.9 million barrels per day due to rising demand. Additionally, Texas Pacific Land is expanding into data center, power, and water infrastructure, with 25 gigawatts of projects in advanced discussions. These developments reflect the company’s diverse revenue streams from oil and gas royalties, water-related revenue, and land-based infrastructure opportunities.

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