3,625 Shares in Texas Pacific Land Corporation $TPL Bought by Capstone Capital Management Ltd

Key Points

• Capstone Capital Management opened a new position in Texas Pacific Land, buying 3,625 shares worth about $1.04 million in the fourth quarter. The stake now represents roughly 1.0% of Capstone’s portfolio.
• Texas Pacific Land recently reported strong quarterly results, with EPS of $2.07 beating estimates and revenue of $236.8 million topping expectations. The company also posted a high net margin of 60.03% and return on equity of 35.52%.
• The company announced a quarterly dividend of $0.60 per share, payable June 15, giving an annualized payout of $2.40 and a yield of 0.6%. Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and a target price of $639.

Capstone Capital Management Ltd purchased a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,625 shares of the financial services provider's stock, valued at approximately $1,041,000. Texas Pacific Land comprises about 1.0% of Capstone Capital Management Ltd's portfolio, making the stock its 18th biggest holding.

A number of other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Texas Pacific Land by 363.2% during 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. Quarry LP acquired a new position in shares of Texas Pacific Land during the third quarter valued at about $29,000. Eagle Bay Advisors LLC acquired a new position in shares of Texas Pacific Land during the fourth quarter valued at about $31,000. Silicon Valley Capital Partners acquired a new position in shares of Texas Pacific Land during the third quarter valued at about $33,000. Finally, Triumph Capital Management acquired a new position in shares of Texas Pacific Land during the third quarter valued at about $36,000. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

TPL opened at $386.78 on Tuesday. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The firm has a market capitalization of $26.68 billion, a PE ratio of 52.98 and a beta of 0.66. The company's 50-day moving average is $457.63 and its 200 day moving average is $385.11.

Texas Pacific Land (NYSE:TPL - Get Free Report) 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 company had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. As a group, analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land's dividend payout ratio is currently 32.88%.

Analyst Ratings Changes

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

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the company's 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 sale, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. This represents a 42.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Donna E. Epps bought 895 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 6.90% of the company's stock.

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.

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