Quent Capital LLC Buys 15,428 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Quent Capital LLC increased its stake in Texas Pacific Land by 4,321.6% in Q4, purchasing an additional 15,428 shares and holding 15,785 shares worth about $4.53 million.
• Major institutional moves include Vanguard adding ~4.98 million shares to hold 7.56 million shares (~$2.17 billion), and hedge funds/institutions now own about 59.94% of TPL.
• Texas Pacific Land beat Q earnings estimates (EPS $1.79 vs. $1.73), raised its quarterly dividend to $0.60 (0.5% yield), has a market cap of ~$30.25B and an average analyst target of $639.

Quent Capital LLC grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 4,321.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,785 shares of the financial services provider's stock after purchasing an additional 15,428 shares during the period. Quent Capital LLC's holdings in Texas Pacific Land were worth $4,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TPL. Vanguard Group Inc. grew its holdings in shares of Texas Pacific Land by 192.8% during the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider's stock worth $2,170,512,000 after acquiring an additional 4,975,738 shares during the period. State Street Corp lifted its holdings in shares of Texas Pacific Land by 1.9% during the third quarter. State Street Corp now owns 1,169,299 shares of the financial services provider's stock valued at $1,091,704,000 after purchasing an additional 22,296 shares during the last quarter. Invesco Ltd. boosted its position in shares of Texas Pacific Land by 3.4% in the 3rd quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider's stock worth $265,070,000 after purchasing an additional 9,389 shares in the last quarter. York GP Ltd. boosted its position in shares of Texas Pacific Land by 195.1% in the 4th quarter. York GP Ltd. now owns 270,600 shares of the financial services provider's stock worth $77,722,000 after purchasing an additional 178,900 shares in the last quarter. Finally, Pacific Heights Asset Management LLC grew its stake in shares of Texas Pacific Land by 12.1% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider's stock worth $172,723,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

TPL opened at $438.78 on Friday. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The stock has a market cap of $30.25 billion, a price-to-earnings ratio of 62.89 and a beta of 0.76. The firm's fifty day moving average is $482.20 and its 200 day moving average is $374.52.

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 EPS for the quarter, beating 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 business had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million. On average, equities research analysts predict that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, March 2nd. This is an increase from Texas Pacific Land's previous quarterly dividend of $0.53. Texas Pacific Land's dividend payout ratio is presently 34.38%.

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the 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 approximately $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donna E. Epps purchased 895 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $510.45 per share, with a total value of $456,852.75. Following the acquisition, the director directly 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 disclosure for this purchase is available in the SEC filing. 6.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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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