Asset Management One Co. Ltd. Increases Position in Texas Pacific Land Corporation $TPL

Key Points

• Asset Management One boosted its stake in Texas Pacific Land by 199.6% in Q4 to 24,263 shares (adding 16,165 shares), while other institutions also increased holdings, leaving institutional ownership at about 59.94%.
• Texas Pacific Land beat expectations for the quarter (EPS $1.79 vs. $1.73; revenue $211.6M vs. $204M), has a market cap of $30.33B and a PE of 63.07, and carries a consensus analyst rating of "Moderate Buy" with a consensus target price of $639.
• The company raised its quarterly dividend to $0.60 (annualized $2.40, yield ~0.5%, payout ratio ~34.4%), and recent insider activity included the CAO selling shares and a director buying shares.

Asset Management One Co. Ltd. lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 199.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 24,263 shares of the financial services provider's stock after buying an additional 16,165 shares during the period. Asset Management One Co. Ltd.'s holdings in Texas Pacific Land were worth $7,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPL. Vanguard Group Inc. increased its position in Texas Pacific Land by 7.9% during the third 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. Sumitomo Mitsui Trust Group Inc. increased its position in Texas Pacific Land by 192.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider's stock worth $38,410,000 after purchasing an additional 88,053 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE increased its position in shares of Texas Pacific Land by 187.4% in the fourth 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 acquired a new stake in shares of Texas Pacific Land in the third quarter worth $52,606,000. Finally, Blue Trust Inc. increased its position in shares of Texas Pacific Land by 171.4% in the fourth 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. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the transaction, the chief accounting officer directly 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 through this link. Also, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Trading Up 0.5%

Shares of TPL stock opened at $439.99 on Thursday. The company has a market capitalization of $30.33 billion, a PE ratio of 63.07 and a beta of 0.76. The firm has a fifty day simple moving average of $481.52 and a 200-day simple moving average of $372.90. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate 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 net margin of 60.31% and a return on equity of 36.18%. Equities research analysts predict that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. This is a boost from Texas Pacific Land's previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. Texas Pacific Land's payout ratio is currently 34.38%.

Wall Street Analyst Weigh In

TPL has been the subject of several recent research reports. 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. Zacks Research raised shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. KeyCorp increased their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Texas Pacific Land in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $639.00.

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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