TriaGen Wealth Management LLC Increases Holdings in Texas Pacific Land Corporation $TPL

Key Points

• TriaGen Wealth Management LLC boosted its position in Texas Pacific Land by 200%, buying 2,842 shares for a total holding of 4,263 shares valued at about $1.224 million per its latest SEC filing.
• Insider activity was mixed: Director Donna E. Epps purchased 895 shares at ~$510.45 (a 44.18% increase in her holdings) while CAO Stephanie Buffington sold 1,608 shares at $503, and insiders now own about 6.9% of the company.
• Analysts turned more positive—KeyCorp raised its price target to $639 with an "overweight" rating, and MarketBeat shows an average consensus rating of "Moderate Buy" with an average target of $639.

TriaGen Wealth Management LLC boosted its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,263 shares of the financial services provider's stock after buying an additional 2,842 shares during the period. TriaGen Wealth Management LLC's holdings in Texas Pacific Land were worth $1,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of TPL. MassMutual Private Wealth & Trust FSB lifted its stake in Texas Pacific Land by 363.2% during the 4th 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. Quarry LP acquired a new stake in shares of Texas Pacific Land in the third quarter worth $29,000. CX Institutional acquired a new stake in shares of Texas Pacific Land in the third quarter worth $30,000. Eagle Bay Advisors LLC purchased a new position in shares of Texas Pacific Land during the fourth quarter worth $31,000. Finally, Silicon Valley Capital Partners purchased a new position in shares of Texas Pacific Land during the third quarter worth $33,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Activity

In other Texas Pacific Land news, Director Donna E. Epps purchased 895 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $1,072,899. The trade was a 42.98% decrease in their position. The SEC filing for this sale provides additional information. 6.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on TPL shares. KeyCorp upped their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Wall Street Zen upgraded Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Texas Pacific Land in a report on Friday, March 27th. Finally, Zacks Research upgraded Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research note on Thursday. One 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $639.00.

Texas Pacific Land Price Performance

TPL opened at $423.45 on Monday. The firm has a fifty day moving average price of $479.04 and a 200 day moving average price of $370.76. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The stock has a market cap of $29.19 billion, a P/E ratio of 60.69 and a beta of 0.76.

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 EPS for the quarter, beating the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The company had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.60 per share. This is a boost from Texas Pacific Land's previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. Texas Pacific Land's payout ratio is 34.38%.

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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