Horizon Kinetics Asset Management buys $353 in Texas Pacific Land shares

Horizon Kinetics Asset Management LLC, a significant shareholder in Texas Pacific Land Corp (TPL), recently purchased additional shares worth $353 at $353.28 each. This transaction occurred after TPL's stock had declined by 16% over the past week and is trading significantly below its 52-week high. Despite the stock being considered overvalued by InvestingPro, TPL reported record quarterly revenue and adjusted EBITDA, driven by increases in oil and gas royalty production and expansion into new infrastructure projects.