Bartlett & CO. Wealth Management LLC Grows Stock Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Bartlett & CO. Wealth Management LLC increased its stake in Texas Pacific Land (NYSE: TPL) by 200.0% in Q4, ending the quarter with 15,159 shares worth about $4.35 million, while institutional investors own roughly 59.94% of the company.
• TPL beat Q4 expectations, reporting $1.79 EPS vs. $1.73 consensus and $211.6M revenue vs. $204.0M, and the company raised its quarterly dividend to $0.60 (annualized $2.40) with a ~34.4% payout ratio.
• Analyst view is mixed: the consensus rating is "Hold," but KeyCorp upgraded the stock to "overweight" and lifted its price target to $639.00.

Bartlett & CO. Wealth Management LLC increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,159 shares of the financial services provider's stock after buying an additional 10,106 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in Texas Pacific Land were worth $4,354,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock worth $25,000 after buying an additional 69 shares during the last quarter. Quarry LP purchased a new position in shares of Texas Pacific Land during the third quarter worth about $29,000. CX Institutional purchased a new position in shares of Texas Pacific Land during the third quarter worth about $30,000. Silicon Valley Capital Partners purchased a new position in shares of Texas Pacific Land during the third quarter worth about $33,000. Finally, Triumph Capital Management purchased a new position in shares of Texas Pacific Land during the third quarter worth about $36,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 8.5%

Shares of NYSE:TPL opened at $410.07 on Friday. The company has a market cap of $28.27 billion, a P/E ratio of 58.78 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 company has a 50-day moving average price of $471.78 and a 200 day moving average price of $366.64.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.06. The firm 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%.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This is an increase 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 0.6%. Texas Pacific Land's payout ratio is 34.38%.

Analyst Ratings Changes

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

Insider Transactions at Texas Pacific Land

In related news, Director Donna E. Epps purchased 895 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, the director directly owned 2,921 shares of the company's stock, valued at $1,491,024.45. This trade represents a 44.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction dated Tuesday, February 24th. The shares were 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 of the company's stock, valued at $1,072,899. This represents a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.90% of the company's stock.

About Texas Pacific Land

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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