A director at Horizon Kinetics Asset Management acquired a single share of Texas Pacific Land Corp (NYSE: TPL) for $377.39 on August 24, according to regulatory filings.
The transaction follows a prior disclosure in May 2026, when the director reported beneficial ownership of 10.1 million TPL shares in an amended Schedule 13D filing. The latest purchase brings the director’s total holdings to 3.24 million shares.
Texas Pacific Land’s shares were trading at $375.40 at the time of the acquisition. The stock has gained 30% year-to-date, though it remains 27% below its six-month peak. Analysts tracking the company’s valuation have flagged TPL as overvalued relative to its fair value, according to InvestingPro data.
The company reported second-quarter earnings that fell short of expectations despite revenue growth. Earnings per share came in at $2.23, missing the $2.28 forecast, while revenue totaled $246.1 million against an estimated $255.5 million. Revenue increased 31% year-over-year to $246 million.
Adjusted EBITDA rose to $216 million with an 88% margin. Oil and gas royalty production averaged 39,700 barrels of oil equivalent per day, a 20% increase from the prior year. Produced water royalty volumes reached a record 4.9 million barrels per day.
Texas Pacific Land is expanding into data center, power, and water infrastructure, with 25 gigawatts of projects under advanced discussion. The company maintains strong gross profit margins of 93% and holds more cash than debt on its balance sheet.
