Texas Pacific Land Corporation $TPL Shares Purchased by York GP Ltd.

Key Points

• York GP Ltd. increased its stake by 195.1% in Texas Pacific Land (NYSE:TPL) during Q4 to 270,600 shares (about $77.7M), with TPL comprising roughly 99.7% of York GP's holdings and representing the fund's largest position.
• Texas Pacific Land beat Q results, reporting $1.79 EPS vs. $1.73 est. and $211.6M revenue; the company has a $30.23B market cap, a P/E of 62.86, and a 52‑week range of $269.23–$547.20.
• The board raised the quarterly dividend to $0.60 (annualized $2.40, ~0.5% yield, DPR 34.38%), and analysts hold a consensus "Moderate Buy" with a $639 price target.

York GP Ltd. increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 195.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,600 shares of the financial services provider's stock after buying an additional 178,900 shares during the quarter. Texas Pacific Land comprises about 99.7% of York GP Ltd.'s holdings, making the stock its largest position. York GP Ltd. owned approximately 0.39% of Texas Pacific Land worth $77,722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Texas Pacific Land by 39.1% in the first 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 purchasing an additional 545 shares during the period. NewEdge Advisors LLC raised its stake 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 worth $1,211,000 after buying an additional 389 shares in the last quarter. Woodline Partners LP raised its stake in shares of Texas Pacific Land by 40.8% during the 1st quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider's stock worth $2,109,000 after buying an additional 461 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 boosted its stake in shares of Texas Pacific Land by 2,177.5% in the second quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider's stock valued at $4,812,000 after buying an additional 4,355 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $438.53 on Tuesday. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The firm has a market capitalization of $30.23 billion, a price-to-earnings ratio of 62.86 and a beta of 0.76. The stock's fifty day moving average is $480.27 and its two-hundred day moving average is $371.56.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The business had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million. As a group, sell-side analysts forecast that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

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

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 1,608 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer owned 2,133 shares of the company's stock, valued at approximately $1,072,899. This represents a 42.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donna E. Epps bought 895 shares of the stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, the director owned 2,921 shares in the company, valued at $1,491,024.45. The trade was a 44.18% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 6.90% of the company's stock.

Analysts Set New Price Targets

TPL has been the topic of a number of recent analyst reports. Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a report on Friday, March 27th. KeyCorp raised their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Finally, Wall Street Zen upgraded shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. One 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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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