Insight Inv LLC Takes Position in Texas Pacific Land Corporation $TPL

Insight Inv LLC purchased a new position in shares of Texas Pacific Land Corporation (NYSE:TPL) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,890 shares of the financial services provider’s stock, valued at approximately $543,000.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Texas Pacific Land in the third quarter worth approximately $29,000. Silicon Valley Capital Partners purchased a new stake in shares of Texas Pacific Land in the third quarter worth approximately $33,000. Triumph Capital Management purchased a new stake in shares of Texas Pacific Land in the third quarter worth approximately $36,000. IMA Advisory Services Inc. grew its holdings in shares of Texas Pacific Land by 77.8% in the third quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 21 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $46,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donna E. Epps purchased 895 shares of the stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, 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 disclosure for this purchase is available in the SEC filing. Company insiders own 6.90% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $402.89 on Friday. The firm has a market capitalization of $27.79 billion, a price-to-earnings ratio of 55.19 and a beta of 0.66. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The stock has a fifty day moving average of $447.36 and a 200 day moving average of $387.06.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $233.00 million. Equities analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.88%.

Wall Street Analyst Weigh In

TPL has been the subject of several recent analyst reports. KeyCorp upped their target price on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.