Annex Advisory Services LLC Takes Position in Texas Pacific Land Corporation $TPL

Key Points

• Annex Advisory Services LLC bought a new stake in Texas Pacific Land, acquiring 32,075 shares valued at approximately $9.21 million in Q4, according to its 13F filing.
• Analysts are mixed—KeyCorp raised its target from $350 to $639, and the stock's average analyst rating is Hold with an average target of $639.
• Texas Pacific Land beat quarterly EPS estimates ($1.79 vs. $1.73), showed strong profitability (net margin 60.3%, ROE 36.2%), and raised its quarterly dividend to $0.60 ($2.40 annualized, ~0.6% yield).

Annex Advisory Services LLC bought a new stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,075 shares of the financial services provider's stock, valued at approximately $9,213,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP bought a new position in Texas Pacific Land during the 3rd quarter valued at $29,000. CX Institutional bought a new position in Texas Pacific Land during the 3rd quarter valued at $30,000. Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land during the third quarter worth $33,000. Triumph Capital Management acquired a new stake in shares of Texas Pacific Land during the third quarter worth $36,000. Finally, Versant Capital Management Inc raised its holdings 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. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TPL. KeyCorp increased their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Wall Street Zen raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Texas Pacific Land in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Texas Pacific Land has an average rating of "Hold" and an average target price of $639.00.

Texas Pacific Land Trading Down 1.2%

NYSE:TPL opened at $411.94 on Wednesday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The company has a 50-day moving average of $474.87 and a 200-day moving average of $368.44. The firm has a market cap of $28.40 billion, a price-to-earnings ratio of 59.05 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The company had revenue of $211.60 million during the quarter, compared to analysts' expectations of $204.00 million.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This is a positive change from Texas Pacific Land's previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land's dividend payout ratio is 34.38%.

Insider Activity at Texas Pacific Land

In related news, Director Donna E. Epps purchased 895 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the acquisition, the director owned 2,921 shares in the company, valued at $1,491,024.45. This trade represents a 44.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares of the company's stock, valued at approximately $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 6.90% of the company's stock.

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.

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