Spring Capital Management LLC Acquires 7,560 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Spring Capital Management LLC increased its stake in Texas Pacific Land (NYSE:TPL) by 200% in Q4, buying an additional 7,560 shares to own 11,340 shares worth $3.26M, making TPL 1.6% of the fund's holdings and its 24th largest position.
• Texas Pacific Land beat Q results (EPS $1.79 vs $1.73 est., revenue $211.6M vs $204M), raised its quarterly dividend to $0.60 ($2.40 annual, 0.5% yield), and trades at a $36.62B market cap with a PE of 76.14.

Spring Capital Management LLC lifted its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,340 shares of the financial services provider's stock after buying an additional 7,560 shares during the period. Texas Pacific Land comprises 1.6% of Spring Capital Management LLC's holdings, making the stock its 24th largest holding. Spring Capital Management LLC's holdings in Texas Pacific Land were worth $3,257,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TPL. EverSource Wealth Advisors LLC increased its holdings 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 purchasing an additional 12 shares during the period. Citizens Financial Group Inc. RI increased its stake in shares of Texas Pacific Land by 1.7% during the third quarter. Citizens Financial Group Inc. RI now owns 704 shares of the financial services provider's stock valued at $657,000 after buying an additional 12 shares during the period. PFG Investments LLC raised its holdings in shares of Texas Pacific Land by 3.6% in the third quarter. PFG Investments LLC now owns 373 shares of the financial services provider's stock valued at $348,000 after acquiring an additional 13 shares in the last quarter. Truist Financial Corp lifted its stake in Texas Pacific Land by 0.6% in the third quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider's stock worth $2,050,000 after acquiring an additional 14 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Texas Pacific Land by 9.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider's stock worth $160,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock opened at $531.23 on Thursday. The company has a market capitalization of $36.62 billion, a PE ratio of 76.14 and a beta of 0.83. The company has a 50-day simple moving average of $445.41 and a two-hundred day simple moving average of $354.27. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Texas Pacific Land's previous quarterly dividend of $0.53. Texas Pacific Land's payout ratio is 34.38%.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the company's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following 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 at 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 purchase, the director owned 2,921 shares of the company's stock, valued at $1,491,024.45. The trade was a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Texas Pacific Land to a "hold" rating in a report on Wednesday, December 3rd. KeyCorp boosted their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Wall Street Zen upgraded Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Texas Pacific Land in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $639.00.

Texas Pacific Land 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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