Horizon Kinetics Asset Management LLC disclosed the purchase of one share of Texas Pacific Land Corp (NYSE: TPL) for $381.51 on August 21, 2026, according to an SEC Form 4 filing signed three days later.
The transaction, valued at $381.51, follows the firm’s disclosure in a May 2026 Schedule 13D amendment that it holds a 10% beneficial ownership stake in TPL. Horizon Kinetics now reports beneficial ownership of 3,244,015 shares, while its total pecuniary interest is tied to 10,109,933 shares as previously disclosed.
Texas Pacific Land, with a market capitalization of $25.8 billion, has seen its stock rise 27% over the past 12 months and 34% year-to-date. The company, which operates in oil and gas royalties, recorded second-quarter 2026 revenue of $246.1 million, a quarterly record but below the $255.5 million estimate. Earnings per share came in at $2.23, missing the $2.28 forecast.
Adjusted EBITDA reached $216 million with an 88% margin. Oil and gas royalty production increased 20% year-over-year to 39,700 barrels of oil equivalent per day, while produced water royalty volumes hit a record 4.9 million barrels per day. The company is also expanding into data centers, power, and water infrastructure, with 25 gigawatts of projects in advanced discussions.
InvestingPro data indicates TPL trades above fair value and is listed among the platform’s most overvalued stocks.
