Texas Pacific Land Corporation $TPL Shares Bought by JB Capital LLC

Key Points

• JB Capital LLC raised its stake in Texas Pacific Land by 201.9% in Q4, adding 6,505 shares to hold 9,727 shares valued at about $2.79 million.
• Texas Pacific Land beat quarterly estimates with EPS of $1.79 (vs. $1.73 est.) and revenue of $211.6M (vs. $204M est.), showing strong profitability (ROE 36.18%, net margin 60.31%).
• The company increased its quarterly dividend to $0.60 (from $0.53), annualized $2.40 for a 0.5% yield, while insiders traded shares (a CAO sold and a director bought) and analysts hold a consensus "Hold" with an average target of $639.

JB Capital LLC raised its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 201.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,727 shares of the financial services provider's stock after purchasing an additional 6,505 shares during the quarter. JB Capital LLC's holdings in Texas Pacific Land were worth $2,794,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock worth $25,000 after purchasing an additional 69 shares during the period. Quarry LP acquired a new position in Texas Pacific Land in the 3rd quarter valued at $29,000. CX Institutional acquired a new position in Texas Pacific Land in the 3rd quarter valued at $30,000. Silicon Valley Capital Partners purchased a new position in Texas Pacific Land during the 3rd quarter worth $33,000. Finally, Triumph Capital Management purchased a new position in Texas Pacific Land during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 0.0%

Shares of Texas Pacific Land stock opened at $444.02 on Friday. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The stock has a market cap of $30.61 billion, a PE ratio of 63.64 and a beta of 0.76. The company has a 50-day moving average of $464.02 and a two-hundred day moving average of $362.25.

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 EPS for the quarter, topping the consensus estimate of $1.73 by $0.06. The business had revenue of $211.60 million for 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%.

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 given a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This is a positive change 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 0.5%. Texas Pacific Land's dividend payout ratio (DPR) is presently 34.38%.

Insiders Place Their Bets

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the company's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares of the company's stock, valued at approximately $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donna E. Epps purchased 895 shares of the company's stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, with a total value of $456,852.75. Following the transaction, the director owned 2,921 shares of the company's stock, valued at approximately $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. KeyCorp lifted their target price 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. Wall Street Zen raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Texas Pacific Land in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Texas Pacific Land currently has a consensus rating of "Hold" and an average 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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