US Bancorp DE Boosts Stock Position in Texas Pacific Land Corporation $TPL

US Bancorp DE boosted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 192.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,834 shares of the financial services provider’s stock after purchasing an additional 38,074 shares during the quarter. US Bancorp DE’s holdings in Texas Pacific Land were worth $16,611,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pekin Hardy Strauss Inc. bought a new position in shares of Texas Pacific Land in the 4th quarter worth about $511,000. Archer Investment Corp boosted its holdings in shares of Texas Pacific Land by 152.4% in the 4th quarter. Archer Investment Corp now owns 3,619 shares of the financial services provider’s stock valued at $1,039,000 after buying an additional 2,185 shares during the period. Vest Financial LLC boosted its holdings in shares of Texas Pacific Land by 864.7% in the 4th quarter. Vest Financial LLC now owns 8,210 shares of the financial services provider’s stock valued at $2,358,000 after buying an additional 7,359 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of Texas Pacific Land by 187.9% in the 4th quarter. Wealthfront Advisers LLC now owns 26,833 shares of the financial services provider’s stock valued at $7,707,000 after buying an additional 17,514 shares during the period. Finally, Certuity LLC lifted its holdings in shares of Texas Pacific Land by 194.3% in the 4th quarter. Certuity LLC now owns 3,220 shares of the financial services provider’s stock worth $925,000 after purchasing an additional 2,126 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the company’s 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 owned 2,133 shares in the company, valued at $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Donna E. Epps acquired 895 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, with a total value of $456,852.75. Following the acquisition, the director owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TPL. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. KeyCorp boosted their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Zacks Research raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $639.00.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $433.94 on Friday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The stock has a market cap of $29.92 billion, a price-to-earnings ratio of 62.20 and a beta of 0.67. The business has a fifty day moving average of $481.54 and a 200-day moving average of $378.28.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 36.18% and a net margin of 60.31%. On average, equities research analysts predict that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. Texas Pacific Land’s payout ratio is currently 34.38%.

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.