Howard Financial Services LTD. Purchases 2,703 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Howard Financial grew its stake in Texas Pacific Land by 200.2% in Q4, buying 2,703 shares to hold 4,053 shares valued at about $1.164 million.
• Multiple other institutional investors also materially increased positions in Q4 (e.g., Daymark, Accelerate, Westwind), and institutional ownership stands at 59.94%.
• Texas Pacific Land beat Q4 estimates (EPS $1.79 vs. $1.73; revenue $211.6M vs. $204M), raised its quarterly dividend to $0.60 ($2.40 annual, 0.4% yield), and has a consensus analyst price target of $639 with a market cap around $36.9B.

Howard Financial Services LTD. grew its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,053 shares of the financial services provider's stock after buying an additional 2,703 shares during the quarter. Howard Financial Services LTD.'s holdings in Texas Pacific Land were worth $1,164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPL. Daymark Wealth Partners LLC increased its stake in shares of Texas Pacific Land by 200.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 6,456 shares of the financial services provider's stock valued at $1,854,000 after buying an additional 4,309 shares during the period. JGP Wealth Management LLC purchased a new stake in Texas Pacific Land in the fourth quarter worth about $2,900,000. Accelerate Investment Advisors LLC grew its holdings in Texas Pacific Land by 199.9% during the 4th quarter. Accelerate Investment Advisors LLC now owns 5,483 shares of the financial services provider's stock worth $1,575,000 after acquiring an additional 3,655 shares in the last quarter. Westwind Capital grew its holdings in Texas Pacific Land by 176.8% during the 4th quarter. Westwind Capital now owns 19,789 shares of the financial services provider's stock worth $5,684,000 after acquiring an additional 12,641 shares in the last quarter. Finally, IFS Advisors LLC increased its position in Texas Pacific Land by 200.0% during the 4th quarter. IFS Advisors LLC now owns 198 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 132 shares during the period. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock opened at $534.91 on Wednesday. The company has a market capitalization of $36.88 billion, a PE ratio of 76.67 and a beta of 0.83. The company has a 50-day simple moving average of $441.33 and a two-hundred day simple moving average of $353.02. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates 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.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.4%. 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 payout ratio is 34.38%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction on Tuesday, February 24th. The stock was 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 owned 2,133 shares in the company, valued at approximately $1,072,899. This represents a 42.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Donna E. Epps acquired 895 shares of the stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, with a total value of $456,852.75. Following the transaction, the director directly 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. 6.90% of the stock is currently owned by insiders.

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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