Horizon Kinetics Asset Management LLC reported a direct purchase of three shares of Texas Pacific Land Corp (NYSE: TPL) common stock on April 8, 2026. The shares were acquired at $449 apiece, bringing the total value of the transaction to $1,347.
After the trade, the market price for TPL moved lower to $372.90. InvestingPro analysis, cited in company materials, indicates that at current market levels TPL appears overvalued relative to its Fair Value.
Following the April 8 purchase, Horizon Kinetics Asset Management LLC holds 3,435,492 shares of Texas Pacific Land Corp directly. Texas Pacific Land is described as a $25.68 billion company, and InvestingPro Tips notes the firm reports gross profit margins of 93%.
Texas Pacific Land also disclosed its fourth-quarter 2025 results, posting earnings per share of $1.79, modestly below the $1.83 estimate. Revenue for the quarter was $212 million, compared with an expected $214 million.
Analysts at KeyBanc adjusted their view on the company’s upside potential, raising the price target for Texas Pacific Land to $639 from $350 while maintaining an Overweight rating. KeyBanc cited emerging opportunities tied to power generation and data center demand on the company’s surface acreage as the rationale for the change.
The company additionally announced the death of board member Murray Stahl. Stahl also served as Chief Executive Officer and Chairman of the Board at Horizon Kinetics Holding Corporation. Horizon Kinetics is identified as Texas Pacific Land’s largest shareholder.
KeyBanc analysts highlighted growing investor interest and the potential for robust growth across Texas Pacific Land’s business segments. The reporting notes that a range of investment firms have sought discussions regarding the company.
For investors evaluating TPL’s valuation, InvestingPro offers a Fair Value calculator that the firm says uses a mix of 17 industry valuation models to produce its assessment. The platform provides additional Pro Research Reports covering TPL and more than 1,400 other U.S. equities.
The transaction by Horizon Kinetics is small in monetary terms but sits against a backdrop of mixed signals: a recent earnings miss, a lowered share price from the trade date, and a notable analyst price-target increase tied to surface-acreage opportunities. The company’s shareholder composition and recent board changes add layers of investor attention and potential uncertainty.