KLCM Advisors Inc. Has $8.47 Million Holdings in Texas Pacific Land Corporation $TPL

Key Points

• KLCM Advisors Inc. increased its stake in Texas Pacific Land by 488.2% in the fourth quarter, ending with 29,490 shares valued at about $8.47 million.
• Several other institutional investors also raised their positions, and institutional ownership now stands at 59.94% of the stock.
• Texas Pacific Land reported better-than-expected quarterly earnings of $2.07 per share and announced a quarterly dividend of $0.60 per share; analysts currently rate the stock Moderate Buy with a $639 target price.

KLCM Advisors Inc. boosted its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 488.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,490 shares of the financial services provider's stock after buying an additional 24,476 shares during the quarter. KLCM Advisors Inc.'s holdings in Texas Pacific Land were worth $8,470,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Texas Pacific Land by 192.8% during the fourth quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider's stock valued at $2,170,512,000 after purchasing an additional 4,975,738 shares in the last quarter. UBS Group AG boosted its stake in shares of Texas Pacific Land by 232.4% during the fourth quarter. UBS Group AG now owns 456,034 shares of the financial services provider's stock valued at $130,982,000 after purchasing an additional 318,842 shares in the last quarter. York GP Ltd. boosted its stake in shares of Texas Pacific Land by 195.1% during the fourth quarter. York GP Ltd. now owns 270,600 shares of the financial services provider's stock valued at $77,722,000 after purchasing an additional 178,900 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Texas Pacific Land by 20,072.4% during the fourth quarter. M&T Bank Corp now owns 155,529 shares of the financial services provider's stock valued at $44,671,000 after purchasing an additional 154,758 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Texas Pacific Land by 192.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider's stock valued at $38,410,000 after purchasing an additional 88,053 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the firm's stock in a transaction dated 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 transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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, with a total value of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares of the company's stock, valued at $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by company insiders.

Texas Pacific Land Price Performance

Shares of TPL opened at $403.34 on Tuesday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The company has a market capitalization of $27.82 billion, a price-to-earnings ratio of 55.25 and a beta of 0.66. The business has a 50-day moving average of $471.39 and a 200-day moving average of $382.28.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $233.00 million. As a group, sell-side analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land's dividend payout ratio (DPR) is 32.88%.

Analyst Ratings Changes

A number of brokerages have recently commented on TPL. KeyCorp lifted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 16th. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Finally, Weiss Ratings raised Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Texas Pacific Land presently has a consensus rating of "Moderate Buy" and a consensus target price of $639.00.

About Texas Pacific Land

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.