MOR Wealth Management LLC Buys New Position in Texas Pacific Land Corporation $TPL

Key Points

• MOR Wealth Management LLC initiated a new position in Texas Pacific Land (NYSE:TPL), buying 13,437 shares worth about $3.86 million in Q4, making TPL roughly 1.8% of its holdings and its 12th-largest position.
• Texas Pacific Land beat estimates with quarterly EPS of $1.79 (vs. $1.73) and revenue of $211.6M (vs. $204M); the company has a market cap of $35.37B, a PE ratio of 73.55, ROE of 36.18% and a net margin of 60.31%.
• Dividend and insider activity: the company raised its quarterly dividend to $0.60 ($2.40 annual, ~0.5% yield), while insiders were active—CAO sold 1,608 shares and a director bought 895 shares; insiders own about 6.90% and institutional investors own ~59.94%.

MOR Wealth Management LLC purchased a new position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 13,437 shares of the financial services provider's stock, valued at approximately $3,859,000. Texas Pacific Land makes up approximately 1.8% of MOR Wealth Management LLC's holdings, making the stock its 12th largest holding.

A number of other institutional investors have also recently made changes to their positions in TPL. Quarry LP bought a new position in Texas Pacific Land in the third quarter valued at $29,000. CX Institutional bought a new stake in Texas Pacific Land during the third quarter worth about $30,000. Silicon Valley Capital Partners bought a new stake in Texas Pacific Land during the third quarter worth about $33,000. Triumph Capital Management purchased a new position in shares of Texas Pacific Land in the 3rd quarter worth about $36,000. Finally, Versant Capital Management Inc increased its position in shares of Texas Pacific Land by 75.0% during the 3rd quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $513.11 on Monday. The business has a 50-day moving average of $452.74 and a 200 day moving average of $357.60. 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 $35.37 billion, a PE ratio of 73.55 and a beta of 0.82.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.06. The business had revenue of $211.60 million for the quarter, compared to analysts' expectations of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a 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 payout ratio is presently 34.38%.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Donna E. Epps acquired 895 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of 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. 6.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Zacks Research raised Texas Pacific Land to a "hold" rating in a report on Wednesday, December 3rd. Wall Street Zen upgraded shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. KeyCorp lifted their price target 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. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Texas Pacific Land in a report on Friday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target 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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