Horizon Kinetics Asset Management LLC, a holder of approximately ten percent of Texas Pacific Land Corp (NASDAQ: TPL), reported buying a single share of common stock on March 17, 2026. The block was executed at a price of $525.47 per share, registering as a $525 purchase. Following this transaction, Horizon Kinetics directly owns 3,467,927 shares of Texas Pacific Land.
The timing of the purchase coincides with TPL shares trading near their 52-week high of $547.20. Year-to-date the stock has risen roughly 84%.
Market valuation and trading backdrop
Texas Pacific Land carries a market capitalization reported at $36.76 billion and trades at a price-to-earnings ratio of 75.8. Analysis from InvestingPro cited in company materials indicates TPL appears overvalued on the basis of Fair Value calculations, with further detail available through the platform’s Pro Research Report.
Recent quarterly results
In its fourth-quarter 2025 release, Texas Pacific Land reported earnings per share of $1.79, short of the consensus projection of $1.83. Quarterly revenue came in at $212 million, narrowly under the expected $214 million. These results are a focal point for investors assessing the company’s near-term financial performance.
Analyst activity and investor interest
KeyBanc recently lifted its price target on Texas Pacific Land to $639 from $350 and maintained an Overweight rating on the shares. The firm attributed its revised outlook to developments related to power generation and data center opportunities on the company’s surface acreage, as well as strong trends in TPL’s water segment. KeyBanc also noted heightened investor interest and inquiries, particularly from long-only managers and traditional long/short funds.
While the single-share purchase by Horizon Kinetics is nominal in size, the disclosure underscores the firm’s continued direct ownership and occurs amid a mix of strong market performance, a modest quarterly shortfall versus expectations, and a significant upward revision to an analyst price target driven by operational opportunities on company land holdings.