ASR Vermogensbeheer N.V. Increases Stock Position in Texas Pacific Land Corporation $TPL

Key Points

• ASR Vermogensbeheer N.V. boosted its Texas Pacific Land stake by 316% in the fourth quarter, ending with 51,861 shares valued at about $14.9 million. Other institutional investors also increased or initiated positions, and institutions now own 59.94% of the stock.
• Inside activity was mixed: Director Donna E. Epps bought 895 shares, raising her holdings by 44.18%, while CAO Stephanie Buffington sold 1,608 shares, cutting her position by 42.98%.
• Analysts are generally constructive on the stock, with recent upgrades and a Moderate Buy consensus. Texas Pacific Land also reported stronger-than-expected quarterly EPS of $2.07 and declared a $0.60 quarterly dividend payable June 15.

ASR Vermogensbeheer N.V. raised its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 316.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,861 shares of the financial services provider's stock after buying an additional 39,394 shares during the quarter. ASR Vermogensbeheer N.V. owned about 0.08% of Texas Pacific Land worth $14,895,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its stake in Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 69 shares during the last quarter. Quarry LP purchased a new stake in Texas Pacific Land during the 3rd quarter valued at about $29,000. CX Institutional purchased a new stake in Texas Pacific Land during the 3rd quarter valued at about $30,000. Eagle Bay Advisors LLC bought a new position in Texas Pacific Land during the 4th quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners bought a new position in Texas Pacific Land during the 3rd quarter worth approximately $33,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps acquired 895 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares of the company's stock, valued at approximately $1,491,024.45. This represents a 44.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $808,824.00. Following the completion of the sale, the chief accounting officer owned 2,133 shares of the company's stock, valued at $1,072,899. The trade was 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.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Zacks Research upgraded Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research 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 raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. Finally, KeyCorp raised their price target 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. 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 an average target price of $639.00.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $394.49 on Friday. The company has a market capitalization of $27.21 billion, a price-to-earnings ratio of 54.04 and a beta of 0.66. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The company's 50-day moving average is $475.88 and its 200 day moving average is $381.04.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $236.80 million during the quarter, compared to analysts' expectations of $233.00 million. As a group, research analysts predict that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 0.6%. Texas Pacific Land's dividend payout ratio is 34.38%.

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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