Howland Capital Management LLC Acquires 32,936 Shares of Texas Pacific Land Corporation $TPL

Howland Capital Management LLC boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 49,404 shares of the financial services provider’s stock after purchasing an additional 32,936 shares during the period. Howland Capital Management LLC’s holdings in Texas Pacific Land were worth $14,190,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 69 shares during the period. IFP Advisors Inc lifted its position in shares of Texas Pacific Land by 185.3% during the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 63 shares in the last quarter. Quarry LP purchased a new position in shares of Texas Pacific Land in the third quarter valued at $29,000. Eagle Bay Advisors LLC bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at $31,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Texas Pacific Land during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL opened at $379.00 on Friday. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The business has a 50 day simple moving average of $410.12 and a two-hundred day simple moving average of $394.59. The firm has a market capitalization of $26.14 billion, a price-to-earnings ratio of 51.92 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. As a group, sell-side analysts expect that Texas Pacific Land Corporation will post 8.88 EPS 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. Investors of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s dividend payout ratio is presently 32.88%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TPL shares. KeyCorp lifted 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 cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $639.00.

Insider Activity at Texas Pacific Land

In related news, CFO Chris Steddum sold 830 shares of Texas Pacific Land stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $400.33, for a total transaction of $332,273.90. Following the completion of the transaction, the chief financial officer directly owned 12,040 shares of the company’s stock, valued at $4,819,973.20. This trade represents a 6.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.90% of the company’s stock.

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.