Arizona State Retirement System Grows Stake in Texas Pacific Land Corporation $TPL

Key Points

• Arizona State Retirement System increased its stake in Texas Pacific Land by 181.4% in Q4, acquiring an additional 10,392 shares to hold 16,122 shares worth $4.631 million.
• Texas Pacific Land beat quarterly estimates with $1.79 EPS (vs. $1.73 expected) and $211.6M revenue (vs. $204M), reporting a 60.31% net margin and 36.18% ROE; analysts project $9.27 EPS for the fiscal year.
• The company raised its quarterly dividend to $0.60 (annualized $2.40, yield ~0.5%), and the stock trades at a market cap of $30.17B with a P/E of 62.73 and a 1‑year range of $269.23–$547.20.

Arizona State Retirement System lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 181.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,122 shares of the financial services provider's stock after purchasing an additional 10,392 shares during the period. Arizona State Retirement System's holdings in Texas Pacific Land were worth $4,631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Texas Pacific Land by 39.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider's stock worth $2,570,000 after purchasing an additional 545 shares during the period. NewEdge Advisors LLC lifted its position in shares of Texas Pacific Land by 74.1% in the 1st quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider's stock worth $1,211,000 after purchasing an additional 389 shares during the period. Woodline Partners LP lifted its position in shares of Texas Pacific Land by 40.8% in the 1st quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider's stock worth $2,109,000 after purchasing an additional 461 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider's stock worth $72,000 after purchasing an additional 12 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Texas Pacific Land by 2,177.5% in the 2nd quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider's stock worth $4,812,000 after purchasing an additional 4,355 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $437.64 on Tuesday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The stock has a market cap of $30.17 billion, a P/E ratio of 62.73 and a beta of 0.76. The firm has a 50-day moving average of $482.31 and a 200 day moving average of $375.88.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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. 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. 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 disclosed 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. 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 dividend on an annualized basis and a yield of 0.5%. Texas Pacific Land's dividend payout ratio (DPR) is presently 34.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research upgraded Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 16th. Wall Street Zen upgraded Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. 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. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Texas Pacific Land in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $639.00.

Insiders Place Their Bets

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donna E. Epps acquired 895 shares of the 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 of the company's stock, valued at $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 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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