Gilbert & Cook Inc. Boosts Stock Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Gilbert & Cook Inc. increased its stake in Texas Pacific Land (NYSE:TPL) by 201.0% in Q4, adding 5,293 shares to hold 7,926 shares valued at approximately $2.28 million, making TPL its 27th-largest position.
• Institutional ownership is high (~59.9%) with Vanguard holding 2.58M shares, and analysts carry a consensus "Hold" rating with a target of $639; TPL recently beat earnings estimates and raised its quarterly dividend to $0.60.

Gilbert & Cook Inc. grew its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 201.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,926 shares of the financial services provider's stock after purchasing an additional 5,293 shares during the period. Texas Pacific Land makes up about 0.3% of Gilbert & Cook Inc.'s holdings, making the stock its 27th biggest position. Gilbert & Cook Inc.'s holdings in Texas Pacific Land were worth $2,277,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 buying an additional 189,842 shares in the last quarter. Epoch Investment Partners Inc. purchased a new stake in shares of Texas Pacific Land during the second quarter worth $92,167,000. Danske Bank A S purchased a new stake in shares of Texas Pacific Land during the third quarter worth $52,606,000. AQR Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 65.1% in the third quarter. AQR Capital Management LLC now owns 90,589 shares of the financial services provider's stock worth $84,578,000 after acquiring an additional 35,716 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Texas Pacific Land by 100.4% in the third quarter. Bank of America Corp DE now owns 62,723 shares of the financial services provider's stock worth $58,561,000 after acquiring an additional 31,417 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a research note on Monday, December 29th. Zacks Research raised Texas Pacific Land to a "hold" rating in a report on Wednesday, December 3rd. KeyCorp raised their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Finally, Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $639.00.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $519.93 on Friday. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The stock has a fifty day moving average of $432.71 and a 200 day moving average of $349.24. The firm has a market capitalization of $35.84 billion, a price-to-earnings ratio of 74.52 and a beta of 0.83.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.06. The business had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. This is a positive change from Texas Pacific Land's previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. Texas Pacific Land's dividend payout ratio (DPR) is currently 34.38%.

Insider Buying and Selling

In other Texas Pacific Land 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 completion of the sale, the chief accounting officer directly owned 2,133 shares in the company, valued at $1,072,899. The trade was 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 purchased 895 shares of the business's stock in a transaction on Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 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.

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