Horizon Kinetics buys $408 of Texas Pacific Land Corp stock By Investing.com

Horizon Kinetics Asset Management LLC reported a purchase of common stock in Texas Pacific Land Corp (NYSE:TPL) on July 14, 2026. The asset manager acquired 1 share at a price of $408.37, totaling $408. The stock currently trades at $411.40, with shares up 45% year-to-date and posting a strong 26% return over the past six months.

Horizon Kinetics Asset Management, identified as a ten percent owner of Texas Pacific Land Corp, now directly holds 3,263,675 shares following this transaction. The firm had previously reported beneficial ownership of 10,109,933 shares in an amendment to its Schedule 13D filing on May 7, 2026. The Form 4 filing clarifies the extent of the asset manager’s pecuniary interest in the directly held shares. According to InvestingPro analysis, TPL appears overvalued at current levels. For deeper insights, investors can access TPL’s comprehensive Pro Research Report, one of 1,400+ available on InvestingPro.

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 recorded a revenue of $236.8 million, slightly above the expected $235.5 million. Additionally, Texas Pacific Land announced an agreement with Chevron to supply land and brackish water for Project Kilby, a power generation facility in Reeves County, Texas. This agreement includes providing surface acreage and the exclusive right to source aquifer-derived water, contributing to Chevron’s large-scale project.

Analysts have shown confidence in Texas Pacific Land’s prospects, with Texas Capital Securities reiterating a Buy rating and maintaining a $440 price target following the Chevron deal. KeyBanc also maintained its Overweight rating and set a price target of $639, following a company-hosted event that highlighted existing business segments. Meanwhile, trading in Texas Pacific Land options saw a significant increase, with call volume reaching 2,016 contracts. These developments reflect recent activities surrounding Texas Pacific Land Corp.

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