D.A. Davidson & CO. Purchases 5,350 Shares of Texas Pacific Land Corporation $TPL

Key Points

• D.A. Davidson & CO. increased its position in Texas Pacific Land by 200%, buying 5,350 shares to hold 8,025 shares valued at about $2.305 million.
• Quarterly results beat expectations: TPL reported EPS of $1.79 vs. $1.73 expected and revenue of $211.6M vs. $204M, with a 60.31% net margin and 36.18% ROE, and the company raised its quarterly dividend to $0.60 (annual $2.40, ~0.6% yield).
• Analyst and insider activity is mixed: MarketBeat shows a consensus "Moderate Buy" with a $639 target amid upgrades and downgrades, insiders both sold and bought shares recently, and institutional investors own roughly 59.9% of the stock.

D.A. Davidson & CO. lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,025 shares of the financial services provider's stock after purchasing an additional 5,350 shares during the quarter. D.A. Davidson & CO.'s holdings in Texas Pacific Land were worth $2,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its position in Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock worth $25,000 after purchasing an additional 69 shares during the period. Quarry LP acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $29,000. CX Institutional acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $30,000. Eagle Bay Advisors LLC bought a new position in shares of Texas Pacific Land during the 4th quarter worth about $31,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Texas Pacific Land during the 3rd quarter worth about $33,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Down 2.2%

Shares of TPL stock opened at $433.94 on Friday. The company has a market capitalization 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. The firm has a 50-day moving average price of $481.54 and a 200 day moving average price of $377.72.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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 firm had revenue of $211.60 million for the quarter, compared to analysts' expectations of $204.00 million. As a group, research analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. 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%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. 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. Zacks Research upgraded shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 16th. KeyCorp lifted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $639.00.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 1,608 shares of the firm'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 sale, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Donna E. Epps bought 895 shares of the stock in a transaction dated Wednesday, February 25th. The stock was acquired 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 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. Company insiders own 6.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.