Sandbox Financial Partners LLC Raises Stock Position in Texas Pacific Land Corporation $TPL

Sandbox Financial Partners LLC lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 173.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,669 shares of the financial services provider’s stock after purchasing an additional 4,228 shares during the period. Sandbox Financial Partners LLC’s holdings in Texas Pacific Land were worth $1,915,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after buying an additional 69 shares during the period. Quarry LP purchased a new stake in Texas Pacific Land in the third quarter worth about $29,000. CX Institutional purchased a new stake in Texas Pacific Land in the third quarter worth about $30,000. Silicon Valley Capital Partners bought a new stake in Texas Pacific Land during the 3rd quarter valued at approximately $33,000. Finally, Triumph Capital Management bought a new stake in Texas Pacific Land during the 3rd quarter valued at approximately $36,000. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Donna E. Epps purchased 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the sale, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. The trade was a 42.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL opened at $519.93 on Friday. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The firm’s 50-day simple moving average is $432.71 and its two-hundred day simple moving average is $349.49. The stock has a market cap of $35.84 billion, a PE ratio of 74.52 and a beta of 0.83.

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

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 34.38%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TPL. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday, December 29th. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. KeyCorp upped their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Zacks Research upgraded Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $639.00.

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.