Sienna Gestion Invests $4.76 Million in Texas Pacific Land Corporation $TPL

Sienna Gestion purchased a new stake in Texas Pacific Land Corporation (NYSE:TPL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,587 shares of the financial services provider’s stock, valued at approximately $4,756,000.

A number of other large investors have also made changes to their positions in TPL. CX Institutional bought a new position in Texas Pacific Land during the third quarter worth about $30,000. Versant Capital Management Inc raised its position in shares of Texas Pacific Land by 75.0% during the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 18 shares during the period. IMA Advisory Services Inc. lifted its holdings in shares of Texas Pacific Land by 77.8% during the 3rd quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 21 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at approximately $46,000. Finally, Assetmark Inc. increased its stake in Texas Pacific Land by 33.3% during the 2nd quarter. Assetmark Inc. now owns 52 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling

In related news, Director Donna E. Epps acquired 895 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was bought 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 in the company, valued at $1,491,024.45. This represents a 44.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the completion of the transaction, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TPL. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Wall Street Zen lowered shares of Texas Pacific Land from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research upgraded Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. Finally, KeyCorp lifted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $526.28 on Monday. The stock has a market capitalization of $36.28 billion, a price-to-earnings ratio of 75.43 and a beta of 0.82. The business has a 50-day moving average of $385.90 and a 200-day moving average of $334.05. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The business had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.60 per share. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. Texas Pacific Land’s payout ratio is presently 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.