Wall Street closes at a record for the first time since end of January
Horizon Kinetics Asset Management LLC purchased a single share of Texas Pacific Land Corp (NASDAQ:TPL) on April 14, 2026, at a price of $413.96. The total value of the purchase was $413. The stock has declined 8% over the past week despite posting a 34% gain over six months, according to InvestingPro data.
Following the transaction, Horizon Kinetics Asset Management LLC directly owns 3,435,496 shares of Texas Pacific Land Corp. InvestingPro analysis suggests the stock is currently overvalued relative to its Fair Value, placing it among companies on the Most Overvalued list.
In other recent news, Texas Pacific Land Corporation announced the death of board member Murray Stahl, who also served as CEO of Horizon Kinetics, the company’s largest shareholder. This announcement was followed by a significant market reaction, with Texas Pacific Land’s shares experiencing a 16% decline. Despite this, KeyBanc has reiterated its Overweight rating for the company and raised its price target to $639, citing substantial developments in power generation and data center opportunities on the company’s surface acreage. The firm also highlighted strong trends in Texas Pacific Land’s water segment as a factor in their optimistic outlook. KeyBanc noted increased investor interest, with inquiries coming from various investment firms. Horizon Kinetics, co-founded by Stahl, announced that Steven Bregman and Peter Doyle will assume co-CEO roles. This series of events marks a period of transition and potential growth for Texas Pacific Land Corporation amidst the recent developments.
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