Horizon Kinetics Asset Management LLC - already a prominent shareholder in Texas Pacific Land Corp (NYSE: TPL) - recorded a modest additional acquisition on April 17, 2026. The asset manager purchased one share of TPL common stock at a price of $419.94; the stated value of that discrete transaction was $419.94.
At the time of publication, TPL shares were trading at $426.8, which corresponds to a market capitalization of $29.47 billion. According to InvestingPro analysis, TPL appears overvalued relative to its Fair Value - a metric noted to be available alongside 17 additional ProTips for subscribers.
Following the April 17 purchase, Horizon Kinetics Asset Management directly holds 3,435,499 shares of Texas Pacific Land Corp. The firm is identified as a ten percent owner of the company. In a prior filing, Horizon Kinetics had reported beneficial ownership of 9,974,556 shares in an amendment to its Schedule 13D on April 13, 2026. The 3,435,499 shares disclosed in this Form 4 represent the extent of the firm’s pecuniary interest in those shares.
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Corporate and leadership developments have followed closely behind the ownership filings. Texas Pacific Land Corporation announced the passing of board member Murray Stahl, who also served as CEO and Chairman of Horizon Kinetics, the company’s largest shareholder. In the wake of that development, Horizon Kinetics co-founders Steven Bregman and Peter Doyle will assume the roles of co-CEOs.
Market watchers and analysts have responded to these changes. KeyBanc has reiterated its Overweight rating for Texas Pacific Land and maintained a price target of $639. The firm pointed to substantial growth prospects across TPL’s business segments, with particular emphasis on power generation and data center opportunities tied to the company’s surface acreage. KeyBanc analysts also cited strong trends within TPL’s water segment and reported heightened investor interest, with many clients seeking discussions about the company.
These developments - the incremental Form 4 purchase, the Schedule 13D disclosure, the leadership transition at Horizon Kinetics, and KeyBanc’s maintained outlook - have continued to shape the public outlook for Texas Pacific Land Corporation.