Stegent Equity Advisors Inc. Has $1.22 Million Stock Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Stegent Equity Advisors increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 199% in Q4 to 4,243 shares, valued at about $1.22 million.
• TPL beat Q4 estimates with $1.79 EPS and $211.6M revenue, reported strong profitability (net margin 60.31%, ROE 36.18%), and raised its quarterly dividend to $0.60 ($2.40 annual, 0.5% yield).
• Analysts carry an average rating of "Hold" with an average price target of $639 (one Buy, two Hold, one Sell), while the stock trades around $513 with a market cap of $35.37 billion.

Stegent Equity Advisors Inc. lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 199.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,243 shares of the financial services provider's stock after purchasing an additional 2,824 shares during the quarter. Stegent Equity Advisors Inc.'s holdings in Texas Pacific Land were worth $1,219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its holdings in Texas Pacific Land by 363.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock worth $25,000 after buying an additional 69 shares during the period. Quarry LP acquired a new position in shares of Texas Pacific Land in the third quarter worth about $29,000. CX Institutional purchased a new position in shares of Texas Pacific Land in the third quarter worth approximately $30,000. Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $33,000. Finally, Triumph Capital Management acquired a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

NYSE TPL opened at $513.11 on Monday. The firm has a market capitalization of $35.37 billion, a price-to-earnings ratio of 73.55 and a beta of 0.82. The company has a 50 day simple moving average of $452.74 and a 200-day simple moving average of $357.60. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20.

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 analysts' consensus estimates of $1.73 by $0.06. The firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.5%. This is an increase from Texas Pacific Land's previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. 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 value of $808,824.00. Following the transaction, the chief accounting officer owned 2,133 shares in the company, valued at approximately $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donna E. Epps acquired 895 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director owned 2,921 shares of the company's stock, valued at approximately $1,491,024.45. This represents a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 6.90% of the company's stock.

Analysts Set New Price Targets

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