GF Fund Management CO. LTD. Has $4.81 Million Holdings in Texas Pacific Land Corporation $TPL

Key Points

• GF Fund Management CO. LTD. increased its stake in Texas Pacific Land by 227.5%, buying 11,637 shares to hold 16,753 shares worth $4.81 million at the end of the quarter.
• Analysts have recently upgraded coverage, giving TPL a consensus rating of Moderate Buy with an average price target of $639 (KeyCorp raised its target to $639 and labeled it "overweight").
• Texas Pacific Land beat quarterly EPS and revenue estimates, raised its quarterly dividend to $0.60 (annualized $2.40), and trades with a market cap around $29.2 billion and a P/E near 60.7.

GF Fund Management CO. LTD. lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 227.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,753 shares of the financial services provider's stock after buying an additional 11,637 shares during the quarter. GF Fund Management CO. LTD.'s holdings in Texas Pacific Land were worth $4,812,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TPL. Bar Harbor Wealth Management raised its position in Texas Pacific Land by 195.1% in the fourth quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider's stock worth $10,591,000 after acquiring an additional 24,379 shares during the period. Stratos Wealth Partners LTD. raised its position in 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 worth $5,231,000 after acquiring an additional 12,390 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Texas Pacific Land by 187.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 37,764 shares of the financial services provider's stock worth $11,095,000 after acquiring an additional 24,629 shares during the period. Nordea Investment Management AB raised its position in Texas Pacific Land by 200.6% in the fourth quarter. Nordea Investment Management AB now owns 3,024 shares of the financial services provider's stock worth $873,000 after acquiring an additional 2,018 shares during the period. Finally, True North Advisors LLC raised its position in Texas Pacific Land by 199.7% in the fourth quarter. True North Advisors LLC now owns 10,024 shares of the financial services provider's stock worth $2,879,000 after acquiring an additional 6,679 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on TPL shares. Wall Street Zen raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. KeyCorp lifted their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Zacks Research upgraded shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $639.00.

Insider Activity at Texas Pacific Land

In other news, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The stock was bought 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 in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the business's 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 directly owned 2,133 shares of the company's stock, valued at approximately $1,072,899. This represents a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Stock Down 0.7%

TPL opened at $423.45 on Friday. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 60.69 and a beta of 0.76. The firm has a 50-day moving average price of $479.04 and a 200-day moving average price of $370.40. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20.

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 EPS for the quarter, beating the consensus estimate of $1.73 by $0.06. The company had revenue of $211.60 million during the quarter, compared to analysts' expectations of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

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 is an increase from Texas Pacific Land's previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 2nd. Texas Pacific Land's dividend payout ratio is presently 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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