Horizon Kinetics buys Texas Pacific Land stock for $340

Horizon Kinetics Asset Management LLC, a 10% owner and director of Texas Pacific Land Corp (NYSE:TPL), purchased common stock in the company on September 28, 2026. The investment firm acquired 1 share of Texas Pacific Land stock at a price of $340.12 per share, totaling $340.

Following this transaction, Horizon Kinetics Asset Management LLC directly holds 3,390,856 shares of Texas Pacific Land Corp common stock. The company maintains a robust financial position with more cash than debt on its balance sheet, according to InvestingPro analysis, though the stock currently trades above its Fair Value. The firm previously reported beneficial ownership of 10,109,933 shares in an amendment to its Schedule 13D filing on May 7, 2026, with the extent of its pecuniary interest in those shares now disclosed in this filing. For deeper insights into TPL’s valuation and financial health, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US stocks on InvestingPro.

In other recent news, Texas Pacific Land reported second-quarter 2026 earnings that fell short of Wall Street expectations, despite achieving record quarterly revenue. The company posted earnings per share of $2.23, missing the forecast of $2.28, while revenue reached $246.1 million, below the estimated $255.5 million. Despite the earnings miss, Texas Pacific Land reported a 31% increase in revenue from the previous year, with adjusted EBITDA rising to $216 million, showcasing a strong operating margin of 88%. The company also noted a 20% year-over-year increase in oil and gas royalty production and a record in produced water royalty volumes.

In additional developments, Texas Pacific Land extended the employment agreements of its senior executives through the end of 2029. The amended contracts for Tyler Glover, Chris Steddum, and Micheal W. Dobbs include automatic one-year extensions unless notice is given 120 days before the term ends. The company is also expanding into data center, power, and water infrastructure, with 25 gigawatts of projects in advanced discussions. These recent developments highlight Texas Pacific Land’s strategic moves and operational achievements.