Plan A Wealth LLC Raises Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Plan A Wealth LLC increased its Texas Pacific Land position by 200% in the fourth quarter, buying 3,450 additional shares to bring its total to 5,175 shares valued at about $1.49 million.
• Texas Pacific Land reported solid quarterly results, with earnings of $2.07 per share and revenue of $236.8 million, both slightly ahead of analyst expectations. The company also posted a strong return on equity of 35.52% and a net margin of 60.03%.
• The company announced a quarterly dividend of $0.60 per share, payable June 15, which works out to an annualized dividend of $2.40 and a yield of 0.6%.

Plan A Wealth LLC lifted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,175 shares of the financial services provider's stock after acquiring an additional 3,450 shares during the period. Texas Pacific Land makes up approximately 0.7% of Plan A Wealth LLC's investment portfolio, making the stock its 15th largest holding. Plan A Wealth LLC's holdings in Texas Pacific Land were worth $1,486,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock worth $25,000 after acquiring an additional 69 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Texas Pacific Land by 185.3% during the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider's stock worth $28,000 after acquiring an additional 63 shares during the last quarter. Quarry LP acquired a new stake in shares of Texas Pacific Land during the third quarter worth about $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth about $31,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land during the third quarter worth about $33,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Down 1.2%

Shares of NYSE:TPL opened at $397.60 on Friday. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The company has a market capitalization of $27.42 billion, a PE ratio of 54.47 and a beta of 0.66. The business has a 50 day moving average of $449.80 and a two-hundred day moving average of $386.95.

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

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land's dividend payout ratio is presently 32.88%.

Analyst Ratings Changes

A number of research firms recently commented on TPL. Weiss Ratings raised Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 1st. Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 16th. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. Finally, KeyCorp lifted their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Texas Pacific Land presently has an average rating of "Moderate Buy" and a consensus target price of $639.00.

Insider Activity at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the company's 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 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Donna E. Epps bought 895 shares of Texas Pacific Land stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the purchase, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 6.90% of the company's stock.

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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