Horizon Kinetics Asset Management LLC, a New York-based asset manager, has executed a transaction to acquire one share of Texas Pacific Land Corp (NASDAQ:TPL) common stock. The purchase, which took place on July 13, 2026, was completed at a price of $411.10 per share, totaling $411 for the transaction. Following this acquisition, Horizon Kinetics Asset Management LLC directly holds 3,263,674 shares of Texas Pacific Land Corp common stock.
The asset manager, which is a significant 10% owner of Texas Pacific Land Corp, previously reported beneficial ownership of 10,109,933 shares in a Schedule 13D filing on May 7, 2026. The company, valued at $28.4 billion, has delivered a 42.75% return year-to-date and trades at a P/E ratio of 56.19. According to InvestingPro analysis, TPL appears overvalued relative to its Fair Value estimate. An InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, while maintaining impressive gross profit margins of 93.24%.
In other recent news, Texas Pacific Land Corp reported financial results for the first quarter of 2026, surpassing earnings and revenue forecasts. The company posted an earnings per share (EPS) of $2.07, exceeding the projected $1.95, and achieved a revenue of $236.8 million, slightly above the expected $235.5 million. In addition to these financial results, 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. Texas Capital Securities maintained a Buy rating on the stock with a price target of $440 following this agreement. Furthermore, KeyBanc reiterated its Overweight rating and set a price target of $639, highlighting the company’s water resources outlook. These developments reflect ongoing strategic partnerships and positive analyst sentiment. Trading in Texas Pacific Land options also surged, with call volume reaching 2,016 contracts.