Texas Pacific Land Corporation $TPL Shares Bought by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management increased its Texas Pacific Land stake by 200% in the fourth quarter, bringing its holdings to 11,874 shares worth about $3.41 million.
• Insider activity was mixed: Director Donna E. Epps bought 895 shares, while CAO Stephanie Buffington sold 1,608 shares. Company insiders still own 6.9% of the stock.
• Texas Pacific Land reported better-than-expected quarterly results, with EPS of $2.07 versus $2.03 estimated, and it announced a quarterly dividend of $0.60 per share, yielding about 0.6% annually.

Morningstar Investment Management LLC raised its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,874 shares of the financial services provider's stock after acquiring an additional 7,916 shares during the period. Morningstar Investment Management LLC's holdings in Texas Pacific Land were worth $3,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Texas Pacific Land during the third quarter worth $29,000. Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land during the third quarter worth $33,000. Triumph Capital Management acquired a new stake in shares of Texas Pacific Land during the third quarter worth $36,000. IMA Advisory Services Inc. lifted its stake in shares of Texas Pacific Land by 77.8% during the third quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider's stock worth $45,000 after buying an additional 21 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in shares of Texas Pacific Land during the third quarter worth $46,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of Texas Pacific Land stock in a transaction that occurred on 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 completion of the acquisition, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was 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 approximately $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. Company insiders own 6.90% of the company's stock.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $402.89 on Monday. The firm has a fifty day moving average price of $447.36 and a 200 day moving average price of $387.61. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The stock has a market cap 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 the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The firm had revenue of $236.80 million during the quarter, compared to analysts' expectations of $233.00 million. As a group, equities analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Dividend Announcement

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

Analyst Upgrades and Downgrades

TPL has been the subject of several research reports. KeyCorp lifted 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. Zacks Research upgraded shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 16th. Weiss Ratings upgraded shares of Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Texas Pacific Land has an average 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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