Collective Family Office LLC Acquires 6,622 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Collective Family Office LLC increased its stake in Texas Pacific Land by 200% in Q4, buying an additional 6,622 shares to hold 9,933 shares valued at $2.853 million.
• Texas Pacific Land topped Q4 estimates with EPS of $1.79 (vs. $1.73) and revenue of $211.6M (vs. $204M), and raised its quarterly dividend to $0.60 ($2.40 annualized, ~0.5% yield).
• TPL trades at a premium (market cap $36.75B, P/E 76.41) with a 52-week range of $269.23–$547.20 (recently $533.10), and the analyst consensus is a "Hold" with an average target of $639 (KeyCorp: overweight, $639 target).

Collective Family Office LLC grew its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,933 shares of the financial services provider's stock after buying an additional 6,622 shares during the period. Collective Family Office LLC's holdings in Texas Pacific Land were worth $2,853,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TPL. Citizens Financial Group Inc. RI lifted its holdings in shares of Texas Pacific Land by 1.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 704 shares of the financial services provider's stock valued at $657,000 after acquiring an additional 12 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Texas Pacific Land by 21.4% during the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider's stock worth $72,000 after acquiring an additional 12 shares during the last quarter. PFG Investments LLC raised its position in Texas Pacific Land by 3.6% during the third quarter. PFG Investments LLC now owns 373 shares of the financial services provider's stock valued at $348,000 after purchasing an additional 13 shares during the period. Truist Financial Corp lifted its stake in shares of Texas Pacific Land by 0.6% in the 3rd quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider's stock valued at $2,050,000 after purchasing an additional 14 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Texas Pacific Land by 9.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider's stock valued at $160,000 after purchasing an additional 14 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

TPL opened at $533.10 on Friday. The stock's 50 day moving average price is $428.54 and its 200-day moving average price is $347.79. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The stock has a market cap of $36.75 billion, a price-to-earnings ratio of 76.41 and a beta of 0.83.

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, topping analysts' consensus estimates of $1.73 by $0.06. The firm had revenue of $211.60 million during the quarter, compared to analyst estimates 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 announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. Texas Pacific Land's payout ratio is presently 34.38%.

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land 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 sale, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. This trade represents a 42.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Donna E. Epps acquired 895 shares of the stock in a transaction on Wednesday, February 25th. The stock was 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 owned 2,921 shares in the company, valued at $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a report on Monday, December 29th. Zacks Research upgraded Texas Pacific Land to a "hold" rating in a research report on Wednesday, December 3rd. Wall Street Zen raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Finally, KeyCorp boosted their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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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