Texas Pacific Land Corporation $TPL is Moors & Cabot Inc.'s 5th Largest Position

Key Points

• Moors & Cabot Inc. increased its Texas Pacific Land stake by 200.4% in the fourth quarter, making TPL its 5th largest holding at 2.1% of the portfolio.
• Texas Pacific Land reported strong quarterly results, with EPS of $2.07 topping estimates and revenue of $236.8 million slightly ahead of forecasts. The company posted a 35.52% return on equity and a 60.03% net margin.
• The company announced a quarterly dividend of $0.60 per share, payable June 15, while analysts currently hold a Moderate Buy consensus with a $639 price target.

Moors & Cabot Inc. raised its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 171,076 shares of the financial services provider's stock after acquiring an additional 114,132 shares during the period. Texas Pacific Land makes up 2.1% of Moors & Cabot Inc.'s investment portfolio, making the stock its 5th largest holding. Moors & Cabot Inc. owned 0.25% of Texas Pacific Land worth $49,137,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in Texas Pacific Land by 21.4% in the second 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 holdings in 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 acquiring an additional 13 shares during the last quarter. Truist Financial Corp lifted its position in Texas Pacific Land by 0.6% during the third quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider's stock worth $2,050,000 after buying an additional 14 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Texas Pacific Land by 9.1% in the third 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 during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its position in Texas Pacific Land by 2.5% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider's stock valued at $575,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $401.33 on Friday. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The firm has a market capitalization of $27.68 billion, a price-to-earnings ratio of 54.98 and a beta of 0.66. The company has a 50 day moving average price of $437.18 and a 200 day moving average price of $389.97.

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

Texas Pacific Land Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on TPL. Weiss Ratings raised shares of Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. KeyCorp raised their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Zacks Research raised shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 16th. Finally, Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Texas Pacific Land has a consensus rating of "Moderate Buy" and a consensus target price 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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