Apollon Wealth Management LLC Buys 2,716 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Apollon Wealth Management raised its stake in Texas Pacific Land by 200.9% in Q4, buying 2,716 shares to own 4,068 shares worth about $1.17 million at quarter-end.
• About 59.94% of TPL is held by institutions (notably Vanguard with 2.58M shares); analysts have a consensus Hold rating with an average target of $639, and KeyCorp upgraded to Overweight with a $639 target.
• Texas Pacific Land beat quarterly estimates (EPS $1.79 vs. $1.73; revenue $211.6M vs. $204M) and raised its quarterly dividend to $0.60 (annualized $2.40, ~0.6% yield).

Apollon Wealth Management LLC raised its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,068 shares of the financial services provider's stock after purchasing an additional 2,716 shares during the period. Apollon Wealth Management LLC's holdings in Texas Pacific Land were worth $1,168,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TPL. Vanguard Group Inc. raised its position in Texas Pacific Land by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider's stock worth $2,409,938,000 after purchasing an additional 189,842 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE raised its position in shares of Texas Pacific Land by 187.4% in the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 114,220 shares of the financial services provider's stock worth $32,806,000 after acquiring an additional 74,478 shares in the last quarter. Danske Bank A S bought a new position in shares of Texas Pacific Land in the 3rd quarter worth about $52,606,000. Blue Trust Inc. raised its position in shares of Texas Pacific Land by 171.4% in the 4th quarter. Blue Trust Inc. now owns 79,108 shares of the financial services provider's stock worth $22,721,000 after acquiring an additional 49,955 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Texas Pacific Land by 65.1% in the 3rd quarter. AQR Capital Management LLC now owns 90,589 shares of the financial services provider's stock worth $84,578,000 after acquiring an additional 35,716 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. Finally, KeyCorp raised their target price 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 investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $639.00.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction dated Tuesday, February 24th. The stock was 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 owned 2,133 shares in the company, valued at approximately $1,072,899. The trade was a 42.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donna E. Epps purchased 895 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Stock Performance

TPL stock opened at $411.94 on Wednesday. The company has a market capitalization of $28.40 billion, a P/E ratio of 59.05 and a beta of 0.76. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The business has a 50-day simple moving average of $474.87 and a two-hundred day simple moving average of $368.44.

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

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. This is an increase from Texas Pacific Land's previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.