Horizon Kinetics Asset Management disclosed the acquisition of one share of Texas Pacific Land Corp (NYSE: TPL) on August 27, 2026, at a price of $365.74 per share, totaling $365. The transaction aligns with the company's reported stock price of $363.10 at the time of filing.
The New York-based investment firm, which holds a 10% ownership stake in Texas Pacific Land, now directly owns 3,244,019 shares of the company. Horizon Kinetics previously disclosed a broader beneficial ownership of 10,109,933 shares in an amended Schedule 13D filing on May 7, 2026, reflecting its pecuniary interest.
Texas Pacific Land reported Q2 2026 earnings per share of $2.23, missing Wall Street estimates of $2.28, despite posting a record quarterly revenue of $246.1 million. Adjusted EBITDA rose 88% year-over-year to $216 million, with a margin of 88%. Oil and gas royalty production increased 20% to 39,700 barrels of oil equivalent per day, while produced water royalty volumes reached a record 4.9 million barrels per day.
The company is expanding into infrastructure projects, including data centers, power, and water, with 25 gigawatts of projects under advanced discussions. Texas Pacific Land's market capitalization stands at $25.08 billion, with a price-to-earnings ratio of 46.54, according to the latest data.
