Texas Pacific Land Corporation $TPL Shares Purchased by EagleClaw Capital Managment LLC

EagleClaw Capital Managment LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL) by 3.9% during the 3rd quarter, Holdings Channel reports. The firm owned 48,948 shares of the financial services provider’s stock after purchasing an additional 1,821 shares during the quarter. Texas Pacific Land makes up about 6.4% of EagleClaw Capital Managment LLC’s investment portfolio, making the stock its biggest position. EagleClaw Capital Managment LLC’s holdings in Texas Pacific Land were worth $45,700,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TPL. CX Institutional bought a new position in Texas Pacific Land during the 3rd quarter valued at about $30,000. Versant Capital Management Inc boosted its position in Texas Pacific Land by 75.0% in the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock valued at $39,000 after buying an additional 18 shares in the last quarter. IMA Advisory Services Inc. grew its stake in Texas Pacific Land by 77.8% during the third quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock worth $45,000 after buying an additional 21 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Texas Pacific Land during the third quarter worth approximately $46,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Texas Pacific Land by 5,100.0% during the second quarter. SBI Securities Co. Ltd. now owns 52 shares of the financial services provider’s stock worth $55,000 after buying an additional 51 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. This represents a 42.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Donna E. Epps bought 895 shares of Texas Pacific Land stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TPL has been the subject of a number of recent analyst reports. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday. KeyCorp increased their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Finally, Zacks Research upgraded Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Trading Up 0.6%

Shares of TPL stock opened at $532.36 on Friday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The firm’s 50 day moving average is $409.64 and its 200-day moving average is $341.84. The firm has a market capitalization of $36.70 billion, a price-to-earnings ratio of 76.31 and a beta of 0.83.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The business had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.60 per share. The ex-dividend date is Monday, March 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. Texas Pacific Land’s dividend payout ratio is presently 34.38%.

About Texas Pacific Land

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.