Cross Staff Investments Inc Has $738,000 Stock Holdings in Texas Pacific Land Corporation $TPL

Cross Staff Investments Inc grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 194.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,570 shares of the financial services provider’s stock after acquiring an additional 1,698 shares during the quarter. Cross Staff Investments Inc’s holdings in Texas Pacific Land were worth $738,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC raised its holdings in shares of Texas Pacific Land by 194.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 10,333,762 shares of the financial services provider’s stock worth $2,968,063,000 after buying an additional 6,829,070 shares in the last quarter. Vanguard Group Inc. grew its position in Texas Pacific Land by 192.8% in the fourth quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock valued at $2,170,512,000 after acquiring an additional 4,975,738 shares during the last quarter. State Street Corp lifted its holdings in shares of Texas Pacific Land by 206.8% in the fourth quarter. State Street Corp now owns 3,587,004 shares of the financial services provider’s stock worth $1,030,259,000 after acquiring an additional 2,417,705 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Texas Pacific Land by 203.7% in the 4th quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider’s stock valued at $503,581,000 after purchasing an additional 1,179,788 shares in the last quarter. Finally, SoftVest Advisors LLC increased its position in Texas Pacific Land by 200.0% during the 4th quarter. SoftVest Advisors LLC now owns 1,180,800 shares of the financial services provider’s stock worth $339,149,000 after purchasing an additional 787,200 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Pacific Land

In related news, CFO Chris Steddum sold 830 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $400.33, for a total value of $332,273.90. Following the sale, the chief financial officer owned 12,040 shares of the company’s stock, valued at $4,819,973.20. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Zacks Research downgraded shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, KeyCorp raised their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $355.05 on Friday. The company has a 50 day simple moving average of $403.01 and a 200 day simple moving average of $397.26. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The firm has a market cap of $24.49 billion, a PE ratio of 48.64 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. As a group, research analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 1st. Texas Pacific Land’s payout ratio is 32.88%.

Texas Pacific Land 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.