North Point Portfolio Managers Corp OH Buys 23,511 Shares of Texas Pacific Land Corporation $TPL

Key Points

• North Point Portfolio Managers Corp OH boosted its stake in Texas Pacific Land by 196.8%, acquiring 23,511 shares to hold 35,457 shares worth about $10.18 million at the end of the quarter.
• Texas Pacific Land beat Q4 estimates with EPS of $1.79 (vs. $1.73 expected) and revenue of $211.6M, and it raised its quarterly dividend to $0.60 (annualized $2.40, 0.5% yield).
• Analysts have a consensus rating of "Moderate Buy" with an average target of $639, while the stock trades at a market cap of $30.33B and a PE of 63.07; institutional investors own roughly 60% of the shares.

North Point Portfolio Managers Corp OH lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 196.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,457 shares of the financial services provider's stock after acquiring an additional 23,511 shares during the period. North Point Portfolio Managers Corp OH owned 0.05% of Texas Pacific Land worth $10,184,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bar Harbor Wealth Management raised its stake in shares of Texas Pacific Land by 195.1% in 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 acquiring an additional 24,379 shares in the last quarter. Stratos Wealth Partners LTD. raised 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 acquiring an additional 12,390 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised 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 acquiring an additional 24,629 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised 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 acquiring an additional 88,053 shares in the last quarter. Finally, Nordea Investment Management AB raised 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 acquiring an additional 2,018 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Trading Up 0.5%

Shares of NYSE:TPL opened at $439.99 on Thursday. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The firm has a market capitalization of $30.33 billion, a PE ratio of 63.07 and a beta of 0.76. The business's 50 day moving average is $481.52 and its 200-day moving average is $372.90.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share 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 company had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million. On average, sell-side analysts predict that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Increases Dividend

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

Wall Street Analysts Forecast Growth

TPL has been the topic of several recent analyst reports. Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. KeyCorp lifted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Finally, Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. One 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Texas Pacific Land currently has a consensus rating of "Moderate Buy" and an average target price of $639.00.

Insider Activity at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction that occurred on Tuesday, February 24th. The stock was 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. This trade represents a 42.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donna E. Epps purchased 895 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 6.90% of the stock is currently owned by company insiders.

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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