UBS Group AG Has $130.98 Million Holdings in Texas Pacific Land Corporation $TPL

Key Points

• UBS boosted its stake in Texas Pacific Land by 232.4% in Q4 to 456,034 shares, worth $130.98 million, representing about 0.66% of the company.
• Sell-side analysts give TPL a consensus rating of Moderate Buy with a consensus target of $639; this follows a Q4 EPS beat ($1.79 vs. $1.73) and revenue of $211.6 million.
• Texas Pacific Land raised its quarterly dividend to $0.60 ($2.40 annual, 0.5% yield), and recent insider activity included the CAO selling shares while a director purchased additional shares.

UBS Group AG increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 232.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 456,034 shares of the financial services provider's stock after buying an additional 318,842 shares during the quarter. UBS Group AG owned 0.66% of Texas Pacific Land worth $130,982,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TPL. MassMutual Private Wealth & Trust FSB raised 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 worth $25,000 after buying an additional 69 shares during the period. Quarry LP acquired a new stake in Texas Pacific Land during the 3rd quarter worth $29,000. CX Institutional acquired a new stake in Texas Pacific Land during the 3rd quarter worth $30,000. Eagle Bay Advisors LLC acquired a new stake in Texas Pacific Land during the 4th quarter worth $31,000. Finally, Silicon Valley Capital Partners acquired a new stake in Texas Pacific Land during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Wall Street Analyst Weigh In

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

Texas Pacific Land Price Performance

TPL opened at $443.78 on Friday. The business's 50-day moving average price is $481.54 and its two-hundred day moving average price is $377.72. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The company has a market capitalization of $30.59 billion, a price-to-earnings ratio of 63.61 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million. Sell-side analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Increases Dividend

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

Insider Activity

In other news, CAO Stephanie Buffington sold 1,608 shares of the firm'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 owned 2,133 shares in the company, valued at $1,072,899. This trade represents a 42.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donna E. Epps acquired 895 shares of the firm's 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 acquisition, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 6.90% of the company's stock.

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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