Mraz Amerine & Associates Inc. Grows Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Mraz Amerine & Associates increased its stake in Texas Pacific Land by 173.8% in the fourth quarter, ending with 8,478 shares valued at about $2.44 million.
• Institutional interest in TPL remains strong overall, with several other hedge funds also boosting positions and 59.94% of the stock now owned by institutional investors.
• Analysts are broadly positive: KeyCorp raised its price target to $639, and MarketBeat says the stock has an average rating of Moderate Buy; meanwhile, Texas Pacific Land also posted a Q1 EPS beat and declared a $0.60 quarterly dividend.

Mraz Amerine & Associates Inc. increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 173.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,478 shares of the financial services provider's stock after purchasing an additional 5,382 shares during the period. Mraz Amerine & Associates Inc.'s holdings in Texas Pacific Land were worth $2,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TPL. Meiji Yasuda Asset Management Co Ltd. increased its stake in Texas Pacific Land by 200.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,891 shares of the financial services provider's stock valued at $1,118,000 after purchasing an additional 2,598 shares during the period. One Charles Private Wealth Services LLC boosted its stake in shares of Texas Pacific Land by 195.5% during the fourth quarter. One Charles Private Wealth Services LLC now owns 76,205 shares of the financial services provider's stock worth $21,888,000 after buying an additional 50,418 shares during the period. Plan A Wealth LLC grew its holdings in shares of Texas Pacific Land by 200.0% during the fourth quarter. Plan A Wealth LLC now owns 5,175 shares of the financial services provider's stock worth $1,486,000 after buying an additional 3,450 shares during the last quarter. Griffin Asset Management Inc. purchased a new position in shares of Texas Pacific Land during the fourth quarter worth about $554,000. Finally, Motco increased its position in Texas Pacific Land by 195.5% in the 4th quarter. Motco now owns 3,744 shares of the financial services provider's stock valued at $1,075,000 after acquiring an additional 2,477 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. KeyCorp upped their price objective 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 report on Thursday, April 16th. Weiss Ratings upgraded Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Texas Pacific Land presently has an average rating of "Moderate Buy" and an average target price of $639.00.

Insider Activity

In related news, CAO Stephanie Buffington sold 1,608 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $1,072,899. The trade was 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 bought 895 shares of the stock in a transaction on 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 completion of the transaction, the director directly owned 2,921 shares of the company's stock, valued at $1,491,024.45. This trade 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 owned by company insiders.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $397.60 on Friday. The stock's 50 day moving average price is $449.80 and its 200 day moving average price is $386.95. 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 cap of $27.42 billion, a PE ratio of 54.47 and a beta of 0.66.

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

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.60 dividend. 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 currently 32.88%.

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.

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