Horizon Kinetics Asset Management LLC purchased one common share of Texas Pacific Land Corp (NYSE: TPL) for $365.74 on August 27, 2026, according to a Form 4 filing. The transaction follows the firm’s broader beneficial ownership of 10.11 million shares, disclosed in a revised Schedule 13D filed May 7, 2026.
The purchase brings Horizon Kinetics’ direct holdings to 3.24 million shares. Texas Pacific Land’s stock was valued at $363.10 at the time of the filing, with InvestingPro classifying the shares as overvalued relative to fair value. The company’s market capitalization stood at $25.08 billion, with a P/E ratio of 46.54.
Texas Pacific Land reported second-quarter earnings that fell short of analyst expectations. Earnings per share totaled $2.23, below the $2.28 estimate, while revenue reached $246.1 million against a $255.5 million forecast. Despite the miss, revenue marked a quarterly record for the company.
Operational performance showed strength. Adjusted EBITDA rose to $216 million, yielding 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 advancing diversification efforts, with 25 gigawatts of projects under discussion across data center, energy, and water infrastructure segments.
