Horizon Kinetics Asset Management LLC, which owns approximately 10% of Texas Pacific Land Corp, reported a purchase of one share of the company on April 1, 2026. The reported price per share for the transaction was $454.04, with a stated total transaction value of $454. Following that small purchase, Horizon Kinetics' direct ownership stands at 3,461,343 shares.
That transaction arrived amid recent corporate results from Texas Pacific Land. For the fourth quarter of 2025 the company reported earnings per share of $1.79, missing the consensus estimate of $1.83. Reported revenue for the quarter was $212 million, just below the forecasted $214 million. These metrics provide the immediate financial context for investor attention on the name.
Alongside the quarterly figures, KeyBanc revised its view of Texas Pacific Land by raising its price target to $639 from a prior $350, while keeping an Overweight rating. KeyBanc's analysts pointed to material developments tied to power generation and data center opportunities across the company’s surface acreage as key drivers behind the higher target. They also called out robust trends in the company’s water business as supportive.
KeyBanc added that it has observed growing investor interest in the stock, noting that many clients have asked for introductory conversations about the company. Those remarks suggest the firm sees expanding market engagement with Texas Pacific Land as part of the investment case grounded in the surface-rights and water-related prospects it manages.
In sum, the Horizon Kinetics one-share purchase updates the formal ownership record for a sizeable holder but does not materially alter its stake. It occurs concurrently with earnings that slightly underperformed expectations and an analyst-led reassessment that elevated the stock’s price target based on land-related commercial opportunities and water-segment momentum.
Sectors impacted: Real assets/land management, energy power generation, data center infrastructure, and water services.