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

Key Points

• TABR Capital Management opened a new position in Texas Pacific Land (NYSE:TPL) in Q4, buying 4,653 shares worth about $1.336 million, while other institutions also added stakes, leaving roughly 59.94% of shares held by hedge funds and institutional investors.
• Analyst sentiment is positive overall with a MarketBeat consensus of Moderate Buy and a consensus price target of $639; KeyCorp raised its target to $639 with an overweight rating and Zacks upgraded TPL to Strong Buy.
• Texas Pacific Land beat Q4 estimates (EPS $1.79 vs. $1.73; revenue $211.6M vs. $204M) and increased its quarterly dividend to $0.60 (annualized $2.40, ~0.5% yield).

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bar Harbor Wealth Management raised its holdings in Texas Pacific Land by 195.1% in the 4th quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider's stock worth $10,591,000 after purchasing an additional 24,379 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Texas Pacific Land by 212.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider's stock valued at $5,231,000 after purchasing an additional 12,390 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Texas Pacific Land by 187.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 37,764 shares of the financial services provider's stock valued at $11,095,000 after purchasing an additional 24,629 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Texas Pacific Land by 192.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider's stock worth $38,410,000 after buying an additional 88,053 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Texas Pacific Land by 200.6% in the fourth quarter. Nordea Investment Management AB now owns 3,024 shares of the financial services provider's stock worth $873,000 after buying an additional 2,018 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TPL shares. Zacks Research upgraded Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Finally, KeyCorp increased 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $639.00.

Texas Pacific Land Stock Up 0.9%

Shares of Texas Pacific Land stock opened at $438.78 on Wednesday. The company has a market capitalization of $30.25 billion, a price-to-earnings ratio of 62.89 and a beta of 0.76. The stock's 50-day simple moving average is $481.00 and its 200-day simple moving average is $372.43. 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 released its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The firm had revenue of $211.60 million during the quarter, compared to analysts' expectations of $204.00 million. On average, equities analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Increases Dividend

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

Insider Activity at Texas Pacific Land

In related news, Director Donna E. Epps bought 895 shares of the company'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 completion of the transaction, the director owned 2,921 shares in the company, valued at $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the firm's stock in a transaction 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.90% of the company's stock.

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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