Horizon Kinetics buys $345 of Texas Pacific Land (NYSE:TPL)
Horizon Kinetics Asset Management LLC, a key stakeholder in Texas Pacific Land Corp (NYSE:TPL), made a notable move by acquiring one share of the company's common stock on August 10, 2026, for $345.1, bringing their total investment to $345. The stock has since appreciated to $358.5, although InvestingPro analysts indicate the company is presently overvalued compared to its intrinsic value.
As a result of this purchase, Horizon Kinetics now holds a direct pecuniary interest in 3,244,006 common shares of TPL. The firm, valued at $24.7 billion, boasts an impressive gross profit margin of 93%. According to InvestingPro insights, Texas Pacific Land possesses more cash reserves than debt and has consistently paid dividends for 13 consecutive years.
This information is derived from an amended Schedule 13D filing filed on May 7, 2026, which previously disclosed an interest of 10,109,933 shares. Recently, TPL reported its second-quarter 2026 financials, which fell short of investor expectations. The company reported earnings per share of $2.23, falling short of the anticipated $2.28, and revenue of $246.1 million, below the estimated $255.5 million.
Despite these results, TPL achieved record quarterly revenue and reported an adjusted EBITDA of $216 million, representing an 88% margin. The company also noted a 31% increase in revenue year-over-year. Additionally, TPL's oil and gas royalty production increased by 20% year-over-year, while produced water royalty volumes reached a record 4.9 million barrels per day.
The company is also diversifying into data center, power, and water infrastructure, with discussions underway for 25 gigawatts of projects.
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