Horizon Kinetics Asset Management acquires TPL stock for $400 By Investing.com

Horizon Kinetics Asset Management LLC, a 10% owner and director of Texas Pacific Land Corp (), acquired common stock in the company on July 31, 2026. The firm purchased 1 share at a price of $400.09, totaling $400 for the transaction. The company currently trades at a market capitalization of $27.6 billion with a P/E ratio of 54.84, while delivering strong returns of 40.5% year-to-date.

Following this transaction, Horizon Kinetics Asset Management LLC beneficially owns 3,263,688 shares of Texas Pacific Land Corp. According to InvestingPro analysis, TPL appears overvalued at current levels and holds more cash than debt on its balance sheet. The firm previously reported beneficial ownership of 10,109,933 shares in an amendment to its Schedule 13D filing on May 7, 2026, with the extent of its pecuniary interest in those shares disclosed in this filing.

In other recent news, Texas Pacific Land Corp reported strong financial results for the first quarter of 2026, surpassing both earnings and revenue forecasts. The company achieved an earnings per share of $2.07, exceeding the projected $1.95, and reported revenue of $236.8 million, slightly above the expected $235.5 million. Additionally, Texas Pacific Land announced a significant agreement with Chevron to supply land and brackish water for Project Kilby, a large-scale power generation facility in Reeves County, Texas. This deal involves Texas Pacific Land providing surface acreage in exchange for cash and exclusive water sourcing rights for Chevron’s project.

Analyst activity around Texas Pacific Land has also been notable. Texas Capital Securities reiterated a Buy rating with a $440.00 price target following the Chevron agreement. Meanwhile, KeyBanc maintained its Overweight rating and set a price target of $639.00, citing a positive outlook on the company’s water segment after a recent company-hosted event. Trading in Texas Pacific Land options has seen a surge, with call volume significantly outpacing put volume. These developments indicate a period of active interest and strategic growth for Texas Pacific Land Corp.

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