Horizon Kinetics asset management, 10% owner, buys $351 in Texas Pacific Land stock

Horizon Kinetics Asset Management LLC, a 10% owner and director of Texas Pacific Land Corp (TPL), made a stock purchase on September 18, 2026. The firm bought a single share of the company's common stock at a price of $351.34, investing a total of $351. This transaction comes amid TPL's current trading price of $341.10, which is accompanied by a market capitalization of $23.5 billion and a high P/E ratio of 43.67.

An InvestingPro analysis suggests that the stock is currently overvalued when compared to its Fair Value. Notably, TPL has demonstrated robust financials with a gross profit margin of 93% and a history of consistent dividend payments for 13 years.

Following this September purchase, Horizon Kinetics Asset Management LLC now holds 3,390,850 shares of TPL. The filing also revealed that on May 7, 2026, the firm amended its Schedule 13D report, declaring beneficial ownership of 10,109,933 shares, with the specifics of its financial stake in those shares detailed in the present filing.

On May 7, 2026, the company reported its Q2 2026 earnings, which fell short of Wall Street's expectations for both profit and revenue. The company reported earnings per share of $2.23, falling short of the forecasted $2.28, while its revenue stood at $246.1 million, which was below the estimated $255.5 million. Despite missing market expectations, Texas Pacific Land achieved record quarterly revenue, adjusted EBITDA, and free cash flow, with revenue increasing by 31% year-over-year.

The company also reported substantial increases in oil and gas royalty production and produced water royalty volumes. Furthermore, Texas Pacific Land is pursuing expansions into data center, power, and water infrastructure projects, with 25 gigawatts of projects under advanced consideration. The company also extended the employment agreements of its top executives through the end of 2029, reflecting ongoing strategic priorities.