Krilogy Financial LLC Grows Stake in Texas Pacific Land Corporation $TPL

Key Points

• Krilogy Financial LLC increased its stake in Texas Pacific Land by 291.1% in Q4 to 4,091 shares worth $1.175 million, part of broad institutional buying that leaves institutions owning 59.94% of the company (Vanguard holds ~2.58M shares).
• Insider activity was mixed: Director Donna E. Epps bought 895 shares at $510.45 (a 44.18% increase to her holding), while CAO Stephanie Buffington sold 1,608 shares at $503, cutting her position by 42.98%.
• Operationally, TPL beat expectations with Q results of $1.79 EPS and $211.6M revenue, raised its quarterly dividend to $0.60 ($2.40 annualized), and carries a consensus Wall Street price target of $639 (average rating: Moderate Buy).

Krilogy Financial LLC grew its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 291.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,091 shares of the financial services provider's stock after buying an additional 3,045 shares during the quarter. Krilogy Financial LLC's holdings in Texas Pacific Land were worth $1,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TPL. Vanguard Group Inc. lifted 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. Sumitomo Mitsui Trust Group Inc. lifted 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. Lawson Kroeker Investment Management Inc. NE lifted 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. Danske Bank A S purchased a new stake in Texas Pacific Land in the 3rd quarter worth approximately $52,606,000. Finally, Blue Trust Inc. lifted its holdings in Texas Pacific Land by 171.4% in the 4th quarter. Blue Trust Inc. now owns 79,108 shares of the financial services provider's stock worth $22,721,000 after buying an additional 49,955 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In related news, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price 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. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 2,133 shares of the company's stock, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $438.78 on Wednesday. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The firm has a market capitalization of $30.25 billion, a P/E ratio of 62.89 and a beta of 0.76. The stock has a 50 day moving average price of $481.00 and a 200-day moving average price of $372.43.

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 the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The firm had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million. On average, equities analysts forecast that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TPL shares. KeyCorp increased their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. Finally, Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $639.00.

Texas Pacific Land 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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