Composition Wealth LLC Has $6.55 Million Position in Texas Pacific Land Corporation $TPL

Key Points

• Composition Wealth LLC increased its stake in Texas Pacific Land by 210.5% in Q4 to 22,806 shares valued at about $6.55 million.
• Texas Pacific Land beat quarterly estimates with $1.79 EPS and $211.6M revenue, and raised its quarterly dividend to $0.60 (annualized $2.40, ~0.6% yield) while reporting strong profitability (60.3% net margin, 36.2% ROE).
• Analyst sentiment has trended higher — the consensus is a “Moderate Buy” with an average price target of $639, driven by several upgrades including KeyCorp's raise to $639.

Composition Wealth LLC increased its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 210.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,806 shares of the financial services provider's stock after purchasing an additional 15,462 shares during the quarter. Composition Wealth LLC's holdings in Texas Pacific Land were worth $6,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI lifted its holdings in 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 worth $657,000 after purchasing an additional 12 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider's stock worth $72,000 after purchasing an additional 12 shares during the last quarter. PFG Investments LLC lifted its holdings in Texas Pacific Land by 3.6% in the 3rd quarter. PFG Investments LLC now owns 373 shares of the financial services provider's stock worth $348,000 after purchasing an additional 13 shares during the last quarter. Truist Financial Corp lifted its holdings in 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 worth $2,050,000 after purchasing an additional 14 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in 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 worth $160,000 after buying an additional 14 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 2.2%

Shares of NYSE TPL opened at $433.94 on Friday. The business's 50 day moving average is $481.54 and its two-hundred day moving average is $378.28. The company has a market cap of $29.92 billion, a P/E ratio of 62.20 and a beta of 0.67. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20.

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 EPS for the quarter, topping the consensus estimate of $1.73 by $0.06. The company had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%. Sell-side analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings raised Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. KeyCorp lifted their price target on 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, Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $639.00.

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 1,608 shares of the company's stock in a transaction on 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 transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Donna E. Epps bought 895 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the purchase, the director directly owned 2,921 shares of the company's stock, valued at $1,491,024.45. This represents a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate 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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