Compass Ion Advisors LLC Has $7.59 Million Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Compass Ion Advisors raised its stake in Texas Pacific Land (TPL) by 203.7% in Q4 to 26,420 shares worth about $7.59 million, making TPL its 20th-largest holding (≈0.7% of the portfolio).
• Analysts have turned more positive—KeyCorp lifted its target to $639 with an "overweight" rating, and MarketBeat shows a consensus rating of "Moderate Buy" with a consensus target of $639.
• Insider activity was mixed: CAO Stephanie Buffington sold 1,608 shares for roughly $808,824 (a ~43% reduction), while director Donna E. Epps bought 895 shares at about $510.45, increasing her stake ~44%.

Compass Ion Advisors LLC raised its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 203.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,420 shares of the financial services provider's stock after acquiring an additional 17,721 shares during the quarter. Texas Pacific Land comprises approximately 0.7% of Compass Ion Advisors LLC's investment portfolio, making the stock its 20th biggest holding. Compass Ion Advisors LLC's holdings in Texas Pacific Land were worth $7,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Texas Pacific Land by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider's stock valued at $2,409,938,000 after acquiring an additional 189,842 shares in the last quarter. State Street Corp boosted its stake in shares of Texas Pacific Land by 1.9% in the 3rd quarter. State Street Corp now owns 1,169,299 shares of the financial services provider's stock valued at $1,091,704,000 after purchasing an additional 22,296 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Texas Pacific Land by 3.4% in the 3rd quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider's stock valued at $265,070,000 after purchasing an additional 9,389 shares during the last quarter. York GP Ltd. boosted its stake in shares of Texas Pacific Land by 195.1% in the 4th quarter. York GP Ltd. now owns 270,600 shares of the financial services provider's stock valued at $77,722,000 after purchasing an additional 178,900 shares during the last quarter. Finally, Pacific Heights Asset Management LLC boosted its stake in shares of Texas Pacific Land by 12.1% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider's stock valued at $172,723,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction that occurred 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 owned 2,133 shares of the company's stock, valued at $1,072,899. This trade represents a 42.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following 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. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $438.78 on Friday. The company's 50 day simple moving average is $482.20 and its 200 day simple moving average is $374.15. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The firm has a market capitalization of $30.25 billion, a price-to-earnings ratio of 62.89 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million. As a group, analysts predict that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

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 paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Texas Pacific Land's previous quarterly dividend of $0.53. Texas Pacific Land's payout ratio is 34.38%.

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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