TABR Capital Management LLC Acquires Shares of 4,653 Texas Pacific Land Corporation $TPL

Key Points

• TABR Capital Management bought a new stake of 4,653 shares of Texas Pacific Land (NYSE: TPL) in Q4, valued at approximately $1.336 million.
• Texas Pacific Land beat expectations with Q4 EPS of $1.79 (vs. $1.73 est.) and revenue of $211.6M, and the company raised its quarterly dividend to $0.60 (annualized $2.40, yield 0.5%).
• Insider activity was mixed—CAO Stephanie Buffington sold 1,608 shares (reducing her position ~43%) while director Donna E. Epps bought 895 shares—and analysts average a "Hold" rating, though KeyCorp upgraded to "Overweight" with a $639 target.

TABR Capital Management LLC bought a new stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,653 shares of the financial services provider's stock, valued at approximately $1,336,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank raised its holdings in Texas Pacific Land by 7.4% during the 2nd quarter. Swiss National Bank now owns 59,151 shares of the financial services provider's stock worth $62,487,000 after purchasing an additional 4,100 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Texas Pacific Land by 8.8% in the 2nd quarter. Prudential Financial Inc. now owns 10,966 shares of the financial services provider's stock valued at $11,584,000 after purchasing an additional 884 shares during the last quarter. Titleist Asset Management LLC boosted its stake in shares of Texas Pacific Land by 262.4% in the 2nd quarter. Titleist Asset Management LLC now owns 1,573 shares of the financial services provider's stock valued at $1,662,000 after purchasing an additional 1,139 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Texas Pacific Land by 13.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 147,557 shares of the financial services provider's stock worth $137,747,000 after buying an additional 17,107 shares during the period. Finally, Westerkirk Capital Inc. acquired a new stake in shares of Texas Pacific Land during the 2nd quarter worth approximately $2,229,000. Institutional investors own 59.94% of the company's stock.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 1,608 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the transaction, the chief accounting officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Donna E. Epps purchased 895 shares of the firm's stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost 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 trade represents a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 6.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TPL shares. Weiss Ratings restated a "hold (c)" rating on shares of Texas Pacific Land in a report on Monday, December 29th. Zacks Research raised shares of Texas Pacific Land to a "hold" rating in a report on Wednesday, December 3rd. 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, KeyCorp upped 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. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $639.00.

Texas Pacific Land Trading Down 2.4%

Texas Pacific Land stock opened at $519.93 on Monday. The firm has a market capitalization of $35.85 billion, a P/E ratio of 74.52 and a beta of 0.83. The business has a 50-day moving average of $432.71 and a 200-day moving average of $349.81. 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 announced its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.06. The business 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 issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.5%. This is a boost 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 (DPR) is 34.38%.

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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