True North Advisors LLC Purchases 6,679 Shares of Texas Pacific Land Corporation $TPL

Key Points

• True North Advisors LLC increased its stake in Texas Pacific Land (NYSE: TPL) by 199.7% in Q4, purchasing 6,679 additional shares to hold 10,024 shares valued at $2.879 million.
• Texas Pacific Land beat Q4 estimates with EPS of $1.79 vs. $1.73 and revenue of $211.6M vs. $204M, reporting strong profitability (net margin 60.31% and ROE 36.18%).
• The company raised its quarterly dividend to $0.60 (annualized $2.40, yield ~0.6%), while analysts are mixed—KeyCorp lifted its price target to $639 but the MarketBeat consensus rating remains a Hold.

True North Advisors LLC raised its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 199.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,024 shares of the financial services provider's stock after purchasing an additional 6,679 shares during the period. True North Advisors LLC's holdings in Texas Pacific Land were worth $2,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Texas Pacific Land by 7.9% during the third quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider's stock valued at $2,409,938,000 after purchasing an additional 189,842 shares during the period. State Street Corp boosted its holdings in shares of Texas Pacific Land by 1.9% in the third quarter. State Street Corp now owns 1,169,299 shares of the financial services provider's stock worth $1,091,704,000 after acquiring an additional 22,296 shares during the period. Invesco Ltd. boosted its holdings in shares of Texas Pacific Land by 3.4% in the third quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider's stock worth $265,070,000 after acquiring an additional 9,389 shares during the period. Pacific Heights Asset Management LLC boosted its holdings in shares of Texas Pacific Land by 12.1% in the third quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider's stock worth $172,723,000 after acquiring an additional 20,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Texas Pacific Land by 13.1% in the third quarter. Dimensional Fund Advisors LP now owns 147,557 shares of the financial services provider's stock worth $137,747,000 after acquiring an additional 17,107 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $378.49 on Friday. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The business has a fifty day moving average price of $470.55 and a 200-day moving average price of $365.44. The firm has a market capitalization of $26.09 billion, a P/E ratio of 54.25 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million.

Texas Pacific Land Increases Dividend

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

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 1,608 shares of the 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 sale, the chief accounting officer owned 2,133 shares in the company, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Donna E. Epps acquired 895 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director directly owned 2,921 shares of the company's stock, valued at $1,491,024.45. This represents a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 6.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a 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 raised their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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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