Texas Pacific Land Corporation $TPL Shares Purchased by Schwartz Investment Counsel Inc.

Key Points

• Schwartz Investment Counsel boosted its Texas Pacific Land stake by 209.7% in Q4, making TPL its largest holding. The firm now owns 475,104 shares valued at about $136.5 million.
• Analyst sentiment is generally positive, with Texas Pacific Land carrying a Moderate Buy consensus and a $639 average price target. KeyCorp recently raised its target to $639 and assigned an Overweight rating.
• The company reported solid quarterly results, posting $2.07 EPS versus the $2.03 estimate and revenue of $236.8 million versus expectations of $233.0 million. Texas Pacific Land also declared a $0.60 quarterly dividend, payable June 15, for a 0.6% yield.

Schwartz Investment Counsel Inc. raised its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 209.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 475,104 shares of the financial services provider's stock after acquiring an additional 321,683 shares during the period. Texas Pacific Land makes up about 4.8% of Schwartz Investment Counsel Inc.'s holdings, making the stock its largest position. Schwartz Investment Counsel Inc. owned 0.69% of Texas Pacific Land worth $136,459,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quarry LP bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $29,000. CX Institutional bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $30,000. Silicon Valley Capital Partners bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $33,000. Triumph Capital Management bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $36,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Texas Pacific Land by 75.0% in the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 18 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TPL. Weiss Ratings upgraded Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 1st. Zacks Research upgraded Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 16th. KeyCorp raised their target price on Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Finally, Wall Street Zen upgraded Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Texas Pacific Land currently has a consensus rating of "Moderate Buy" and a consensus price target of $639.00.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land 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 completion of the transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. The trade was a 42.98% 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. Also, Director Donna E. Epps purchased 895 shares of Texas Pacific Land stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the transaction, the director owned 2,921 shares of the company's stock, valued at $1,491,024.45. This represents a 44.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Price Performance

Shares of TPL opened at $401.13 on Wednesday. The firm has a market cap of $27.67 billion, a PE ratio of 54.95 and a beta of 0.66. The stock's fifty day moving average price is $468.92 and its two-hundred day moving average price is $382.93. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.04. The company had revenue of $236.80 million during the quarter, compared to analysts' expectations of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. Sell-side analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend 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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