Texas Pacific Land Corporation $TPL Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group boosted its position by 192.8% in Q4, owning 7,556,966 shares of Texas Pacific Land (≈10.96% of the company) valued at about $2.17 billion.
• Texas Pacific Land recently beat quarterly estimates (EPS $1.79 vs. $1.73; revenue $211.6M), has a market cap of $30.25B and a P/E of 62.9, and carries a Wall Street average price target around $639 with a "Moderate Buy" consensus.
• The board increased the quarterly dividend to $0.60 (annualized $2.40, ~0.5% yield), and insiders were active—Director Donna E. Epps bought 895 shares while the CAO sold 1,608 shares; insiders hold about 6.9% of the stock.

Vanguard Group Inc. increased its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 192.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,556,966 shares of the financial services provider's stock after buying an additional 4,975,738 shares during the period. Vanguard Group Inc. owned 10.96% of Texas Pacific Land worth $2,170,512,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Texas Pacific Land by 39.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider's stock valued at $2,570,000 after buying an additional 545 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Texas Pacific Land by 74.1% during the 1st quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider's stock valued at $1,211,000 after buying an additional 389 shares during the period. Woodline Partners LP raised its position in Texas Pacific Land by 40.8% in the first quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider's stock valued at $2,109,000 after purchasing an additional 461 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider's stock valued at $72,000 after buying an additional 12 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Texas Pacific Land by 2,177.5% in the 2nd quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider's stock worth $4,812,000 after acquiring an additional 4,355 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Buying and Selling

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average cost of $510.45 per share, with a total value of $456,852.75. Following the acquisition, the director directly owned 2,921 shares of the company's stock, valued at $1,491,024.45. The trade was a 44.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through 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 transaction of $808,824.00. Following the completion of the sale, the chief accounting officer 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. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Price Performance

NYSE TPL opened at $438.83 on Thursday. The company has a fifty day moving average of $482.39 and a two-hundred day moving average of $377.26. The company has a market capitalization of $30.25 billion, a PE ratio of 62.90 and a beta of 0.76. 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 posted its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.06. The business had revenue of $211.60 million for the quarter, compared to analysts' expectations of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%. On average, research analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.60 dividend. This is an increase 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%. The ex-dividend date was Monday, March 2nd. Texas Pacific Land's dividend payout ratio (DPR) is presently 34.38%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 16th. Wall Street Zen raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Texas Pacific Land in a report on Friday, March 27th. Finally, KeyCorp boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Texas Pacific Land has an average rating of "Moderate Buy" and an average price target of $639.00.

About Texas Pacific Land

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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