Horizon Kinetics Asset Management buys Texas Pacific Land stock for $340

On September 24, 2026, Horizon Kinetics Asset Management LLC purchased 1 share of Texas Pacific Land Corp's common stock at $340.28 per share, increasing its direct beneficial ownership to 3,390,854 shares. The firm's current stake in TPL is 10%. Analysts suggest the stock may be overvalued compared to its intrinsic value, based on its P/E ratio of 43.67 and market capitalization of $23.33 billion.

Texas Pacific Land demonstrated strong financial performance in Q2 2026, with record revenue of $246.1 million, despite earning per shares falling short of expectations at $2.23. The company maintains impressive gross profit margins of 93% and garners a high financial health score from InvestingPro. Texas Pacific Land has also extended employment agreements for its senior executives, including President and CEO Tyler Glover, CFO Chris Steddum, and Senior Vice President, Secretary, and General Counsel Micheal W. Dobbs, through December 31, 2029.

The company is expanding its operations in data center, power, and water infrastructure, totaling 25 gigawatts in advanced discussions, aligning with its strategy to utilize its oil and gas royalties, water revenues, and land-based infrastructure opportunities.