Horizon Kinetics Asset Management LLC, which holds about ten percent of Texas Pacific Land Corp (NYSE: TPL), disclosed a direct purchase of one share of the company’s common stock on March 31, 2026. The reported per-share price for the transaction was $470.18, with the total value recorded as $470. Following the purchase, Horizon Kinetics’ direct ownership in Texas Pacific Land stands at 3,467,937 shares.
Texas Pacific Land’s most recent quarterly results show modest shortfalls versus expectations. For the fourth quarter of 2025 the company reported earnings per share of $1.79, below the consensus forecast of $1.83. Quarterly revenue was $212 million, narrowly missing the projected $214 million.
Shortly after the earnings release, KeyBanc adjusted its valuation view for the company. The firm raised its price target on Texas Pacific Land shares to $639 from $350 while retaining an Overweight rating. KeyBanc highlighted developments tied to power generation and data center prospects on TPL’s surface acreage as drivers of the revised outlook. Analysts at the bank also pointed to strong trends in the company’s water segment.
KeyBanc additionally reported a notable uptick in client interest during 2026, noting that inquiries have risen across investor types. The reported sources of increased inquiries include long-only managers, traditional long/short funds, and generalist investors.
Market performance to date reflects heightened attention: Texas Pacific Land has appreciated 74% year-to-date, a sharp contrast with a 1% increase recorded for the S&P 500 over the same period.
This disclosure of a single-share purchase by a large holder arrives against a backdrop of analyst optimism and rising investor interest, alongside quarterly results that slightly missed expectations.