Quantinno Capital Management LP Raises Position in Texas Pacific Land Corporation $TPL

Key Points

• Quantinno Capital Management increased its Texas Pacific Land position by 48.5% in the first quarter, bringing its holdings to 21,351 shares valued at approximately $10.1 million. Institutional investors collectively own 59.94% of the company.
• Analyst sentiment remains mixed, with one Buy, two Hold, and one Sell rating. Texas Pacific Land has an average consensus rating of Hold and an average price target of $639.
• The company reported quarterly EPS of $2.07, slightly above the $2.03 estimate, while revenue reached $236.8 million. Shares opened at $396.86, down 2.3%, with a market capitalization of about $27.4 billion.

Quantinno Capital Management LP grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 48.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 21,351 shares of the financial services provider's stock after acquiring an additional 6,976 shares during the period. Quantinno Capital Management LP's holdings in Texas Pacific Land were worth $10,133,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Family Manage LLC boosted its position in shares of Texas Pacific Land by 113.9% during the first quarter. Family Manage LLC now owns 10,985 shares of the financial services provider's stock valued at $5,213,000 after purchasing an additional 5,849 shares in the last quarter. RIHO Partners LLC raised its holdings in Texas Pacific Land by 5.6% in the first quarter. RIHO Partners LLC now owns 14,369 shares of the financial services provider's stock worth $6,819,000 after purchasing an additional 764 shares in the last quarter. Cypress Capital Group purchased a new position in Texas Pacific Land during the first quarter valued at $358,000. OMERS ADMINISTRATION Corp lifted its position in Texas Pacific Land by 36.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 2,725 shares of the financial services provider's stock valued at $1,293,000 after buying an additional 733 shares during the period. Finally, FreeGulliver LLC bought a new stake in shares of Texas Pacific Land during the 1st quarter valued at $294,000. Institutional investors own 59.94% of the company's stock.

Wall Street Analysts Forecast Growth

TPL has been the topic of a number of recent research reports. Zacks Research raised shares of Texas Pacific Land from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of Texas Pacific Land in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $639.00.

Insider Transactions at Texas Pacific Land

In related news, CFO Chris Steddum sold 3,170 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $400.25, for a total transaction of $1,268,792.50. Following the sale, the chief financial officer directly owned 12,870 shares of the company's stock, valued at approximately $5,151,217.50. This represents a 19.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Stock Down 2.3%

Texas Pacific Land stock opened at $396.86 on Wednesday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The company has a market capitalization of $27.37 billion, a P/E ratio of 54.36 and a beta of 0.60. The stock's 50 day moving average is $395.06 and its 200 day moving average is $421.81.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The business had revenue of $236.80 million during the quarter, compared to analysts' expectations of $233.00 million. As a group, equities analysts expect that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

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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