Linden Thomas Advisory Services LLC Has $1.89 Million Stake in Texas Pacific Land Corporation $TPL

Linden Thomas Advisory Services LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL) by 210.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,588 shares of the financial services provider’s stock after purchasing an additional 4,467 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Texas Pacific Land were worth $1,892,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TPL. Vanguard Group Inc. boosted its position in Texas Pacific Land by 7.9% during the third quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock valued at $2,409,938,000 after acquiring an additional 189,842 shares during the last quarter. State Street Corp raised its position in shares of Texas Pacific Land by 1.9% in the 3rd quarter. State Street Corp now owns 1,169,299 shares of the financial services provider’s stock worth $1,091,704,000 after acquiring an additional 22,296 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Texas Pacific Land by 3.4% in the 3rd quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider’s stock valued at $265,070,000 after purchasing an additional 9,389 shares during the period. Pacific Heights Asset Management LLC lifted its stake in shares of Texas Pacific Land by 12.1% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider’s stock valued at $172,723,000 after purchasing an additional 20,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Texas Pacific Land by 13.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 147,557 shares of the financial services provider’s stock valued at $137,747,000 after purchasing an additional 17,107 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $444.02 on Friday. The company’s 50-day moving average is $462.08 and its 200-day moving average is $360.96. The stock has a market capitalization of $30.61 billion, a PE ratio of 63.64 and a beta of 0.76. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. The business 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 declared 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. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. 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%.

Analysts Set New Price Targets

TPL has been the subject of several recent analyst reports. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. Finally, KeyCorp raised their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. 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 data from MarketBeat, Texas Pacific Land has an average rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Company Profile

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.