U.S. Energy Royalty Stocks Continue Low-Price Purchases by Major Shareholders Worth 1 Trillion Won

According to an open-market purchase filing, Horizon Kinetics Asset Management LLC—one of Texas Pacific Land Corp.’s (TPL) major shareholders holding over 10%—made additional purchases of common stock on three occasions: around $395–$406 per share on May 20, and at approximately $369 per share on June 3 and June 15. After these transactions, its directly held stake was reported at about 3.39 million shares, valued at roughly $1.39 billion and $1.25 billion (approximately KRW 1.9 trillion and KRW 1.7 trillion, respectively). The May 20 purchase alone amounted to about $790,000 (around KRW 1.1 billion). All trades were classified as open-market purchases, recorded as actual transactions rather than compensatory awards or automated executions.

On May 6, TPL announced its first-quarter 2026 results, with both earnings per share and revenue exceeding market expectations. In April, the company had also disclosed the passing of Murray Stahl, a TPL director and chief executive of its largest shareholder, Horizon Kinetics.

Texas Pacific Land Corp is one of the largest landowners in Texas, generating most of its revenue from land leases, royalties and water services tied to oil and gas development in the Permian Basin. Horizon Kinetics Asset Management, TPL’s largest institutional shareholder, reaffirmed in its recently amended Schedule 13D filing that it holds approximately 10.1 million voting shares.