Global X Japan Co. Ltd. Has $1.51 Million Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Global X Japan raised its stake in Texas Pacific Land by 1,425.3% in Q4, adding 4,903 shares to hold 5,247 shares valued at about $1.507 million.
• Insider activity was notable: Director Donna E. Epps purchased 895 shares at $510.45 while CAO Stephanie Buffington sold 1,608 shares at $503, leaving insiders with roughly 6.90% ownership.
• Texas Pacific Land beat Q results (EPS $1.79 vs. $1.73; revenue $211.6M vs. $204M) and raised its quarterly dividend to $0.60 ($2.40 annualized, ~0.5% yield).

Global X Japan Co. Ltd. lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 1,425.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,247 shares of the financial services provider's stock after acquiring an additional 4,903 shares during the period. Global X Japan Co. Ltd.'s holdings in Texas Pacific Land were worth $1,507,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Texas Pacific Land by 39.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider's stock valued at $2,570,000 after buying an additional 545 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Texas Pacific Land by 74.1% in the 1st quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider's stock worth $1,211,000 after acquiring an additional 389 shares during the period. Woodline Partners LP grew its holdings in shares of Texas Pacific Land by 40.8% during the 1st quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider's stock worth $2,109,000 after purchasing an additional 461 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Texas Pacific Land by 7.5% during the 2nd quarter. Cetera Investment Advisers now owns 1,990 shares of the financial services provider's stock worth $2,103,000 after purchasing an additional 138 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Texas Pacific Land by 12.5% during the second quarter. Franklin Resources Inc. now owns 17,909 shares of the financial services provider's stock valued at $18,919,000 after purchasing an additional 1,994 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps purchased 895 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director directly 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 filing with the SEC, which is available through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer directly owned 2,133 shares of the company's stock, valued at $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is owned by insiders.

Texas Pacific Land Stock Performance

TPL opened at $522.15 on Friday. The firm's 50-day simple moving average is $449.24 and its 200-day simple moving average is $355.44. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The firm has a market cap of $36.00 billion, a price-to-earnings ratio of 74.84 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.06. The business 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Texas Pacific Land's previous quarterly dividend of $0.53. Texas Pacific Land's dividend payout ratio (DPR) is presently 34.38%.

Wall Street Analyst Weigh In

TPL has been the subject of several research reports. Zacks Research raised Texas Pacific Land to a "hold" rating in a research report on Wednesday, December 3rd. KeyCorp lifted their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a research report on Monday, February 23rd. 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. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Texas Pacific Land in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Texas Pacific Land currently has an average rating of "Hold" and a consensus target price of $639.00.

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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