Sapient Capital LLC Has $13.92 Million Position in Texas Pacific Land Corporation $TPL

Key Points

• Sapient Capital LLC increased its Texas Pacific Land position by 166.3% in the fourth quarter, adding 29,749 shares to bring its total to 47,634 shares valued at about $13.92 million.
• Texas Pacific Land reported stronger-than-expected quarterly results, posting $2.07 EPS versus the $2.03 consensus and revenue of $236.8 million, while maintaining a high net margin of 60.03%.
• The company announced a quarterly dividend of $0.60 per share and has also seen mixed insider activity, including one executive sale and one director purchase; analysts currently rate the stock a Moderate Buy with a consensus target of $639.

Sapient Capital LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 166.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,634 shares of the financial services provider's stock after buying an additional 29,749 shares during the quarter. Sapient Capital LLC owned 0.07% of Texas Pacific Land worth $13,916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider's stock valued at $72,000 after buying an additional 12 shares in the last quarter. PFG Investments LLC raised its position in shares of Texas Pacific Land by 3.6% in the 3rd quarter. PFG Investments LLC now owns 373 shares of the financial services provider's stock valued at $348,000 after buying an additional 13 shares in the last quarter. Truist Financial Corp raised its position in shares of Texas Pacific Land by 0.6% in the 3rd quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider's stock valued at $2,050,000 after buying an additional 14 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Texas Pacific Land by 9.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider's stock valued at $160,000 after buying an additional 14 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of Texas Pacific Land by 2.5% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider's stock valued at $575,000 after buying an additional 15 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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Texas Pacific Land Price Performance

TPL stock opened at $385.55 on Monday. The company has a 50 day simple moving average of $460.34 and a 200 day simple moving average of $384.54. The stock has a market cap of $26.59 billion, a price-to-earnings ratio of 52.82 and a beta of 0.66. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20.

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

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land's dividend payout ratio is currently 32.88%.

Insider Buying and Selling

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the sale, the chief accounting officer directly owned 2,133 shares of the company's stock, valued at $1,072,899. The trade was a 42.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Donna E. Epps purchased 895 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the transaction, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. KeyCorp boosted their target price 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. Zacks Research upgraded shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. Wall Street Zen upgraded shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. Finally, Weiss Ratings upgraded shares of Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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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