Texas Pacific Land Corporation $TPL Shares Acquired by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group increased its stake in Texas Pacific Land by 152.3% in the fourth quarter, buying an additional 15,251 shares for a total of 25,266 shares valued at about $7.26 million.
• Insider activity also showed buying: Director Donna E. Epps purchased 895 shares at $510.45 each, boosting her position by 44.18%.
• Texas Pacific Land recently beat earnings expectations, reporting $2.07 EPS versus $2.03 expected, and the company announced a quarterly dividend of $0.60 per share.

Jefferies Financial Group Inc. raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 152.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,266 shares of the financial services provider's stock after purchasing an additional 15,251 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Texas Pacific Land were worth $7,257,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted 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 last quarter. IFP Advisors Inc lifted its holdings in Texas Pacific Land by 185.3% during the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider's stock worth $28,000 after buying an additional 63 shares during the last quarter. Quarry LP bought a new position in Texas Pacific Land during the 3rd quarter worth approximately $29,000. Eagle Bay Advisors LLC bought a new position in Texas Pacific Land during the 4th quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners bought a new position in Texas Pacific Land during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling

In other news, Director Donna E. Epps bought 895 shares of the 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 completion of the purchase, the director directly owned 2,921 shares of the company's stock, valued at $1,491,024.45. This trade represents a 44.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TPL shares. Weiss Ratings raised Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 1st. KeyCorp raised their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. Finally, Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a 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 assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $639.00.

Texas Pacific Land Stock Performance

TPL opened at $402.89 on Tuesday. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The stock's fifty day moving average is $444.81 and its 200-day moving average is $388.30. The company has a market capitalization of $27.79 billion, a PE ratio of 55.19 and a beta of 0.66.

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

Texas Pacific Land Dividend Announcement

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

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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