Horizon Kinetics Asset Management LLC, a roughly ten percent owner of Texas Pacific Land Corp (NYSE: TPL), recorded a small purchase of company stock on February 27, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The filing shows the firm acquired 1 share of common stock at a price of $517.29.
The transaction, valued at approximately $517, nudged Horizon Kinetics’ direct ownership to 3,479,382 shares. The filing is the official disclosure required by the SEC when insiders or large shareholders transact in company securities.
Those ownership details arrive against a recent earnings backdrop for Texas Pacific Land. For the fourth quarter of 2025 the company reported earnings per share of $1.79, missing the consensus forecast of $1.83. Revenue for the quarter was $212 million, modestly below the $214 million analysts had expected.
Following the results, KeyBanc adjusted its view on Texas Pacific Land shares, lifting its price target to $639 from $350 and maintaining an Overweight rating. In its analysis KeyBanc highlighted material developments on the company’s surface acreage related to power generation and data center opportunities. The bank’s analyst, Tim Rezvan, also pointed to favorable trends in the company’s water business.
Investor interest in Texas Pacific Land has reportedly broadened. The company has drawn inquiries from a range of institutional types, including long-only managers, traditional long/short funds and generalist investors. Those developments, together with the sector commentary, have coincided with a 74% year-to-date increase in the company’s share price compared with a 1% gain for the S&P 500.
The Form 4 purchase by Horizon Kinetics is small in dollar terms and represents a formal update to the firm’s reported holdings. The company-level details that have been disclosed publicly include the quarterly financials, KeyBanc’s revised target and the noted investor interest across multiple investor categories.
Context and takeaways
- Horizon Kinetics filed a Form 4 showing a single-share purchase at $517.29 on February 27, 2026.
- Post-transaction direct holdings for Horizon Kinetics are 3,479,382 shares.
- Texas Pacific Land’s Q4 2025 EPS of $1.79 and revenue of $212 million both came in below analyst forecasts.
- KeyBanc raised its price target to $639 and cited surface-acreage opportunities in power generation and data centers, plus strength in the water segment.
- The stock has outperformed year-to-date, rising 74% versus a 1% gain for the S&P 500.