HB Wealth Management LLC Acquires 2,860 Shares of Texas Pacific Land Corporation $TPL

Key Points

• HB Wealth Management raised its stake in Texas Pacific Land (NYSE: TPL) by 198.7% in Q4, buying 2,860 shares to hold 4,299 shares valued at about $1.235 million.
• TPL beat Q4 estimates with EPS of $1.79 (vs. $1.73 est.) and revenue of $211.6M, and the company recently increased its quarterly dividend to $0.60 ($2.40 annual, ~0.5% yield); market cap is ~$30.25B with a PE of 62.89.
• Analyst and institutional backdrop: the consensus rating is a "Moderate Buy" with an average target of $639, major institutions (e.g., Vanguard, M&T Bank, York GP) added shares, and institutional ownership is about 59.9%, while insiders showed mixed activity.

HB Wealth Management LLC increased its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 198.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,299 shares of the financial services provider's stock after buying an additional 2,860 shares during the period. HB Wealth Management LLC's holdings in Texas Pacific Land were worth $1,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TPL. Vanguard Group Inc. boosted its holdings 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 worth $2,409,938,000 after buying an additional 189,842 shares during the period. York GP Ltd. boosted its holdings in Texas Pacific Land by 195.1% in the 4th quarter. York GP Ltd. now owns 270,600 shares of the financial services provider's stock worth $77,722,000 after buying an additional 178,900 shares during the period. M&T Bank Corp boosted its holdings in Texas Pacific Land by 20,072.4% in the 4th quarter. M&T Bank Corp now owns 155,529 shares of the financial services provider's stock worth $44,671,000 after buying an additional 154,758 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Texas Pacific Land by 192.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider's stock worth $38,410,000 after buying an additional 88,053 shares during the period. Finally, Lawson Kroeker Investment Management Inc. NE boosted its holdings in Texas Pacific Land by 187.4% in the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 114,220 shares of the financial services provider's stock worth $32,806,000 after buying an additional 74,478 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

NYSE TPL opened at $438.78 on Monday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The stock has a market capitalization of $30.25 billion, a PE ratio of 62.89 and a beta of 0.76. The company's 50 day simple moving average is $482.20 and its two-hundred day simple moving average is $374.93.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) 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 business had revenue of $211.60 million for the quarter, compared to analysts' expectations of $204.00 million. On average, research analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Increases Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on TPL. KeyCorp increased 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Finally, 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. 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $639.00.

Insider Buying and Selling at Texas Pacific Land

In other news, 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 transaction of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares in the company, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Donna E. Epps acquired 895 shares of the stock in a transaction dated Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. This represents a 44.18% increase in their position. 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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