Horizon Kinetics Asset Management LLC, a significant shareholder in Texas Pacific Land Corp (TPL), acquired common stock in the company on July 6, 2026, according to a recent SEC filing.
The investment firm, identified as a ten percent owner, purchased 1 share of Texas Pacific Land Corp common stock for a total value of $408. The shares were acquired at a price of $408.89 per share.The transaction comes as TPL trades at $399.20 with a market capitalization of $27.5 billion. According to InvestingPro analysis, the stock appears overvalued at current levels. The company maintains impressive gross profit margins of 93% and holds more cash than debt, among 16 key insights available in the comprehensive InvestingPro Research Report.
Following this transaction, Horizon Kinetics Asset Management LLC directly holds 3,263,669 shares of Texas Pacific Land Corp common stock. The filing also noted that Horizon Kinetics Asset Management LLC previously reported beneficial ownership of 10,109,933 shares in an amended Schedule 13D filing on May 7, 2026, with the extent of its pecuniary interest in those shares disclosed within this filing.
In other recent news, Texas Pacific Land Corp reported robust financial results for the first quarter of 2026, surpassing both earnings and revenue forecasts. The company achieved an earnings per share (EPS) of $2.07, exceeding the anticipated $1.95, and reported 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 involves TPL providing surface acreage in exchange for cash and exclusive rights to source aquifer-derived water. Following this announcement, Texas Capital Securities reiterated a Buy rating with a price target of $440.00 on TPL shares. Meanwhile, KeyBanc maintained its Overweight rating and set a price target of $639.00, highlighting the positive outlook on the company’s water resources. These developments mark significant strides for Texas Pacific Land Corp as it continues to expand its business operations.
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