Texas Pacific Land Corporation $TPL Position Increased by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp increased its stake in Texas Pacific Land by 136.3%, buying an additional 18,395 shares to hold 31,887 shares worth about $9.16 million at the end of the quarter.
• Insider activity was mixed: director Donna E. Epps bought 895 shares at $510.45 (a 44.18% increase in her holdings), while CAO Stephanie Buffington sold 1,608 shares at $503; corporate insiders now own about 6.90% of the stock.
• Texas Pacific Land raised its quarterly dividend to $0.60 (annualized $2.40, ~0.6% yield) and analysts have pushed the consensus price target to $639, with KeyCorp upgrading its target and rating to "overweight."

Mitsubishi UFJ Trust & Banking Corp raised its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 136.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,887 shares of the financial services provider's stock after buying an additional 18,395 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Texas Pacific Land were worth $9,159,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Texas Pacific Land by 363.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock worth $25,000 after acquiring an additional 69 shares during the last quarter. Quarry LP acquired a new stake in shares of Texas Pacific Land during the third quarter worth $29,000. CX Institutional purchased a new stake in shares of Texas Pacific Land during the third quarter valued at $30,000. Eagle Bay Advisors LLC acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at $31,000. Finally, Silicon Valley Capital Partners acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In related news, Director Donna E. Epps acquired 895 shares of the company's stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land 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 sale, the chief accounting officer directly owned 2,133 shares of the company's stock, valued at $1,072,899. This trade represents a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Trading Down 2.2%

NYSE:TPL opened at $433.94 on Friday. The business's fifty day moving average price is $481.54 and its 200 day moving average price is $378.28. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of 62.20 and a beta of 0.67. 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 data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.06. The firm had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%. Equities analysts forecast 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. Investors of record on Monday, March 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from Texas Pacific Land's previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land's payout ratio is presently 34.38%.

Analysts Set New Price Targets

Several research firms have issued reports on TPL. Weiss Ratings upgraded Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. Wall Street Zen raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. KeyCorp boosted their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. 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. Based on data from MarketBeat, Texas Pacific Land has a consensus rating of "Moderate Buy" and a consensus price target of $639.00.

About Texas Pacific Land

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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