Fielder Capital Group LLC Increases Position in Texas Pacific Land Corporation $TPL

Key Points

• Fielder Capital Group increased its Texas Pacific Land position by 196% in Q4, buying 25,132 additional shares and ending with 37,952 shares worth about $10.9 million.
• Institutional investors have broadly raised their stakes in Texas Pacific Land, with several firms posting large percentage increases and hedge funds/other institutions now owning 59.94% of the company.
• Analysts remain constructive on TPL: multiple firms upgraded the stock, KeyCorp lifted its price target to $639, and the consensus rating is Moderate Buy. The company also beat quarterly EPS and revenue estimates and declared a $0.60 per-share dividend.

Fielder Capital Group LLC raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 196.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,952 shares of the financial services provider's stock after buying an additional 25,132 shares during the period. Texas Pacific Land comprises approximately 2.3% of Fielder Capital Group LLC's investment portfolio, making the stock its 11th biggest position. Fielder Capital Group LLC owned 0.06% of Texas Pacific Land worth $10,901,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bar Harbor Wealth Management boosted its position in shares of Texas Pacific Land by 195.1% during the fourth quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider's stock valued at $10,591,000 after buying an additional 24,379 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of Texas Pacific Land by 212.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider's stock valued at $5,231,000 after purchasing an additional 12,390 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Texas Pacific Land by 184.1% in the fourth quarter. New York State Teachers Retirement System now owns 38,841 shares of the financial services provider's stock valued at $11,156,000 after purchasing an additional 25,170 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Texas Pacific Land by 192.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider's stock valued at $38,410,000 after purchasing an additional 88,053 shares during the period. Finally, Schwartz Investment Counsel Inc. boosted its holdings in shares of Texas Pacific Land by 209.7% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider's stock valued at $136,459,000 after purchasing an additional 321,683 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings upgraded Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 1st. Zacks Research upgraded Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 16th. Wall Street Zen upgraded Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. Finally, KeyCorp boosted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $639.00.

Texas Pacific Land Stock Down 6.3%

Shares of NYSE:TPL opened at $368.24 on Tuesday. The company has a market capitalization of $25.40 billion, a price-to-earnings ratio of 50.44 and a beta of 0.61. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The firm has a 50 day moving average of $431.12 and a 200 day moving average of $390.68.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.04. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. On average, sell-side analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio is presently 32.88%.

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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