Radnor Capital Management LLC increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 205.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,870 shares of the financial services provider's stock after buying an additional 2,605 shares during the period. Radnor Capital Management LLC's holdings in Texas Pacific Land were worth $1,112,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Texas Pacific Land by 39.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider's stock worth $2,570,000 after buying an additional 545 shares during the period. NewEdge Advisors LLC increased its stake in Texas Pacific Land by 74.1% during the 1st quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider's stock worth $1,211,000 after buying an additional 389 shares during the period. Woodline Partners LP increased its stake in Texas Pacific Land by 40.8% during the 1st quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider's stock worth $2,109,000 after buying an additional 461 shares during the period. EverSource Wealth Advisors LLC increased its stake in Texas Pacific Land by 21.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider's stock worth $72,000 after buying an additional 12 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Texas Pacific Land by 2,177.5% in the 2nd quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider's stock valued at $4,812,000 after purchasing an additional 4,355 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, May 1st. Zacks Research raised shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. KeyCorp increased their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a research report on Monday, February 23rd. Finally, Wall Street Zen raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $639.00.
Get Our Latest Analysis on TPL
Texas Pacific Land Trading Up 0.4%
Shares of Texas Pacific Land stock opened at $386.78 on Tuesday. The company has a fifty day simple moving average of $457.63 and a 200-day simple moving average of $385.11. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The stock has a market cap of $26.68 billion, a price-to-earnings ratio of 52.98 and a beta of 0.66.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The business had revenue of $236.80 million during the quarter, compared to analysts' expectations of $233.00 million. On average, analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land's dividend payout ratio is currently 32.88%.
Insiders Place Their Bets
In other Texas Pacific Land news, Director Donna E. Epps purchased 895 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction 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 represents a 42.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is owned by corporate insiders.
About Texas Pacific Land
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding TPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Pacific Land Corporation (NYSE:TPL - Free Report).
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