Horizon Kinetics Asset Management LLC, which already holds a significant 10% stake in Texas Pacific Land Corp (NASDAQ:TPL), has executed a new acquisition of common stock in the entity. On June 11, 2026, the firm purchased a single share at a price of $370.47, bringing the total transaction value to $370. This direct acquisition increases the firm's direct holding in the company to 3,393,551 shares.
Previously, Horizon Kinetics reported a broader beneficial ownership position of 10,109,933 shares in an amended Schedule 13D filing dated May 7, 2026. The shares detailed in that filing reflect the extent of the firm's pecuniary interest in the company. The recent purchase adds to this existing position, signaling continued engagement with the entity.
Texas Pacific Land Corp recently reported financial results for the first quarter of 2026 that exceeded both earnings per share and revenue projections. The company achieved an EPS of $2.07, surpassing the expected $1.95, and reported revenue of $236.8 million, slightly above the anticipated $235.5 million. These results indicate strong operational performance during the period.
KeyBanc has maintained its Overweight rating for Texas Pacific Land Trust, setting a price target of $639.00. The firm highlighted a positive outlook on the company's water segment following a teach-in and field trip in Midland. This event was attended by shareholders and featured management presentations, reflecting recent activities surrounding the company.
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