Vanguard Group Inc. Grows Stock Holdings in Texas Pacific Land Corporation $TPL

Vanguard Group Inc. boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 192.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,556,966 shares of the financial services provider’s stock after purchasing an additional 4,975,738 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Texas Pacific Land worth $2,170,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPL. MassMutual Private Wealth & Trust FSB lifted its position in Texas Pacific Land by 363.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 69 shares during the period. Quarry LP acquired a new position in shares of Texas Pacific Land in the third quarter valued at approximately $29,000. CX Institutional purchased a new stake in shares of Texas Pacific Land during the third quarter worth approximately $30,000. Eagle Bay Advisors LLC purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land during the third quarter worth $33,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value 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 approximately $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Donna E. Epps purchased 895 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TPL has been the topic of a number of analyst reports. 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. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. Finally, KeyCorp boosted their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $639.00.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $438.83 on Thursday. The business’s fifty day moving average price is $482.39 and its 200 day moving average price is $377.26. The firm has a market capitalization of $30.25 billion, a PE ratio of 62.90 and a beta of 0.76. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.73 by $0.06. The company had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. Equities research analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a yield of 0.5%. Texas Pacific Land’s dividend payout ratio (DPR) 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.