Texas Pacific Land Corporation $TPL Shares Purchased by Inspire Investing LLC

Key Points

• Inspire Investing LLC boosted its Texas Pacific Land position by 677.9% in the fourth quarter, buying 15,362 additional shares and bringing its stake to 17,628 shares valued at about $5.06 million.
• Texas Pacific Land reported strong quarterly results, with earnings of $2.07 per share versus the $2.03 consensus and revenue of $236.8 million versus expectations of $233 million.
• The company paid a quarterly dividend of $0.60 per share, while analysts currently have a Hold consensus on the stock with a price target of $639.

Inspire Investing LLC increased its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 677.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,628 shares of the financial services provider's stock after purchasing an additional 15,362 shares during the quarter. Inspire Investing LLC's holdings in Texas Pacific Land were worth $5,063,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TPL. MassMutual Private Wealth & Trust FSB lifted its holdings in Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 69 shares during the period. IFP Advisors Inc lifted its holdings in Texas Pacific Land by 185.3% in the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 63 shares during the period. Quarry LP acquired a new position in Texas Pacific Land in the third quarter valued at approximately $29,000. Eagle Bay Advisors LLC acquired a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $31,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $31,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $354.75 on Thursday. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 48.60 and a beta of 0.61. The stock has a 50 day simple moving average of $404.86 and a 200-day simple moving average of $396.79.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $236.80 million during the quarter, compared to analysts' expectations of $233.00 million. Analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 1st. Texas Pacific Land's payout ratio is presently 32.88%.

Insider Activity at Texas Pacific Land

In related news, CFO Chris Steddum sold 830 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $400.33, for a total transaction of $332,273.90. Following the completion of the sale, the chief financial officer directly owned 12,040 shares in the company, valued at approximately $4,819,973.20. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.90% of the company's stock.

Wall Street Analyst Weigh In

TPL has been the subject of several research analyst reports. KeyCorp upped their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Zacks Research downgraded Texas Pacific Land from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Finally, Weiss Ratings raised Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Texas Pacific Land presently has an average 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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