Texas Pacific Land Corporation $TPL Shares Bought by World Equity Group Inc.

Key Points

• World Equity Group Inc. boosted its stake in Texas Pacific Land by 220.3% in Q4 to 8,481 shares worth $2.436M, and several other institutions (notably Czech National Bank and Viking Fund Management) also made sizable purchases.
• Insider activity was mixed: Director Donna E. Epps bought 895 shares at about $510.45 (a 44% increase in her holdings) while CAO Stephanie Buffington sold 1,608 shares at $503.
• Texas Pacific Land beat quarterly EPS estimates ($1.79 vs. $1.73), raised its quarterly dividend to $0.60, and saw KeyCorp lift its price target to $639 with an "overweight" rating.

World Equity Group Inc. increased its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 220.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,481 shares of the financial services provider's stock after buying an additional 5,833 shares during the period. Texas Pacific Land comprises approximately 0.7% of World Equity Group Inc.'s holdings, making the stock its 28th biggest position. World Equity Group Inc.'s holdings in Texas Pacific Land were worth $2,436,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. CVA Family Office LLC boosted its position in Texas Pacific Land by 202.9% during the 4th quarter. CVA Family Office LLC now owns 309 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 207 shares during the period. Sax Wealth Advisors LLC lifted its position in Texas Pacific Land by 202.7% in the 4th quarter. Sax Wealth Advisors LLC now owns 881 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 590 shares during the last quarter. Czech National Bank grew its position in Texas Pacific Land by 211.4% in the 4th quarter. Czech National Bank now owns 15,273 shares of the financial services provider's stock worth $4,387,000 after purchasing an additional 10,369 shares during the last quarter. Curated Wealth Partners LLC raised its holdings in shares of Texas Pacific Land by 200.0% during the fourth quarter. Curated Wealth Partners LLC now owns 8,298 shares of the financial services provider's stock valued at $2,383,000 after buying an additional 5,532 shares during the last quarter. Finally, Viking Fund Management LLC raised its holdings in shares of Texas Pacific Land by 845.0% during the fourth quarter. Viking Fund Management LLC now owns 18,900 shares of the financial services provider's stock valued at $5,428,000 after buying an additional 16,900 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Insiders Place Their Bets

In related news, Director Donna E. Epps bought 895 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were bought at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares of the company's stock, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephanie Buffington sold 1,608 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer directly 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 disclosure for this sale is available in the SEC filing. Insiders own 6.90% of the company's stock.

Texas Pacific Land Price Performance

NYSE TPL opened at $531.23 on Thursday. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The company has a market capitalization of $36.62 billion, a P/E ratio of 76.14 and a beta of 0.83. The company's 50 day simple moving average is $445.41 and its 200 day simple moving average is $354.27.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share 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 analysts' expectations of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. This is a boost from Texas Pacific Land's previous quarterly dividend of $0.53. Texas Pacific Land's dividend payout ratio is 34.38%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. KeyCorp lifted their target price on 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 upgraded shares of Texas Pacific Land to a "hold" rating in a research report on Wednesday, December 3rd. Wall Street Zen upgraded shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Texas Pacific Land in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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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