Mutual Advisors LLC Raises Position in Texas Pacific Land Corporation $TPL

Key Points

• Mutual Advisors LLC boosted its stake in Texas Pacific Land (TPL) by 197.6% in Q4 to 7,979 shares (valued at $2.292M), and several other institutions also raised holdings, with hedge funds/institutions now owning about 59.94% of the stock.
• TPL beat quarterly estimates (EPS $1.79 vs. $1.73; revenue $211.6M vs. $204M), raised its quarterly dividend to $0.60 ($2.40 annual, 0.6% yield), and has a consensus analyst rating of Moderate Buy with an average target price of $639.

Mutual Advisors LLC lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 197.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,979 shares of the financial services provider's stock after buying an additional 5,298 shares during the period. Mutual Advisors LLC's holdings in Texas Pacific Land were worth $2,292,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Bar Harbor Wealth Management lifted its position in Texas Pacific Land by 195.1% during the 4th quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider's stock valued at $10,591,000 after purchasing an additional 24,379 shares during the period. Stratos Wealth Partners LTD. boosted its stake in shares of Texas Pacific Land by 212.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider's stock valued at $5,231,000 after purchasing an additional 12,390 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Texas Pacific Land by 187.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 37,764 shares of the financial services provider's stock valued at $11,095,000 after purchasing an additional 24,629 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of 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 valued at $38,410,000 after purchasing an additional 88,053 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Texas Pacific Land by 200.6% in the 4th quarter. Nordea Investment Management AB now owns 3,024 shares of the financial services provider's stock valued at $873,000 after purchasing an additional 2,018 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $433.94 on Friday. The stock has a market cap of $29.92 billion, a PE ratio of 62.20 and a beta of 0.67. The stock has a 50-day moving average of $481.54 and a 200-day moving average of $378.28. 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 announced its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $211.60 million during the quarter, compared to analysts' expectations of $204.00 million. As a group, research analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. This is a boost from Texas Pacific Land's previous quarterly dividend of $0.53. Texas Pacific Land's payout ratio is presently 34.38%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps acquired 895 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director owned 2,921 shares of the company's stock, valued at $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the business'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 completion of the transaction, the chief accounting officer 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 SEC filing for this sale provides additional information. 6.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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