Horizon Kinetics Asset Management, RENN Fund 10% owner, buys $2,305

On September 22, 2026, Horizon Kinetics Asset Management LLC, a 10% owner and director of Texas Pacific Land Corp, bought one share of the company's common stock. The purchase price was $361.36 per share, totaling a transaction value of $361. After this acquisition, HKAM now owns a total of 3,390,852 shares of TPL. As of the current trading price of $341.10, TPL has a market capitalization of $23.53 billion.

InvestingPro analysis indicates that the stock is currently overvalued compared to its estimated fair value. TPL boasts impressive financial metrics, including a high gross profit margin of 93% and substantial liquidity, with more cash than debt on its balance sheet. HKAM, which filed its initial Schedule 13D report in May 2026, disclosed beneficial ownership of 10,109,933 shares of TPL.

Recently, TPL reported its second-quarter 2026 earnings, which fell short of market expectations. Despite a 31% increase in revenue to $246.1 million, earnings per share of $2.23 fell short of the projected $2.28. The company remains focused on growth opportunities, including expansion into data center, power, and water infrastructure projects, with discussions ongoing for 25 gigawatts of new projects.

Additionally, Texas Pacific Land Corporation has extended the employment agreements of three senior executives through the end of 2029.