Horizon Kinetics Asset Management LLC acquired a single common share of Texas Pacific Land Corp (TPL) on August 24, 2026, at $377.39 per share, according to a regulatory filing.
The transaction, disclosed in an amended Schedule 13D filing, follows Horizon Kinetics’ prior disclosure of beneficial ownership of 10.11 million TPL shares as of May 7, 2026. The firm now holds 3.24 million shares directly.
Texas Pacific Land’s stock was trading at $375.40 at the time of the filing. The company’s shares have gained 30% year-to-date but are down 27% over the past six months. TPL maintains a gross profit margin of 93% and holds more cash than debt on its balance sheet. InvestingPro has flagged the stock as among the most overvalued based on fair-value assessments.
The insider transaction coincides with TPL’s second-quarter 2026 financial results, which showed record revenue and cash flow despite missing Wall Street estimates. Revenue totaled $246.1 million, a 31% year-over-year increase, though it fell short of the $255.5 million consensus. Earnings per share came in at $2.23, below the expected $2.28.
Adjusted EBITDA rose to $216 million, with an 88% margin. Oil and gas royalty production averaged 39,700 barrels of oil equivalent per day, up 20% from the prior year. Produced water royalty volumes reached a record 4.9 million barrels per day.
TPL is also expanding into data center, power, and water infrastructure, with 25 gigawatts of projects under advanced discussion.
