Vest Financial LLC Buys 7,359 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Vest Financial LLC raised its stake in Texas Pacific Land by 864.7% in Q4, buying 7,359 shares to hold 8,210 shares worth about $2.36 million.
• Texas Pacific Land beat Q4 estimates with $1.79 EPS (vs. $1.73 expected) and $211.6M revenue, reporting a 60.31% net margin and strong return on equity.
• The company increased its quarterly dividend to $0.60 (annualized $2.40, 0.5% yield), while analysts' average price target sits at $639 with a "Moderate Buy" consensus.

Vest Financial LLC raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 864.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,210 shares of the financial services provider's stock after buying an additional 7,359 shares during the period. Vest Financial LLC's holdings in Texas Pacific Land were worth $2,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TPL. MassMutual Private Wealth & Trust FSB increased its holdings in Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock valued at $25,000 after buying an additional 69 shares during the last quarter. Quarry LP bought a new stake in Texas Pacific Land during the third quarter valued at about $29,000. CX Institutional bought a new stake in Texas Pacific Land during the third quarter valued at about $30,000. Eagle Bay Advisors LLC bought a new stake in Texas Pacific Land during the fourth quarter valued at about $31,000. Finally, Silicon Valley Capital Partners bought a new stake in Texas Pacific Land during the third quarter valued at about $33,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $438.83 on Thursday. The firm has a fifty day moving average price of $482.39 and a 200-day moving average price of $377.26. The stock has a market cap 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 announced 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. The firm had revenue of $211.60 million during the quarter, compared to analysts' expectations of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. On average, research analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on TPL. KeyCorp boosted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Texas Pacific Land in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $639.00.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the firm'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 transaction, the chief accounting officer directly owned 2,133 shares of the company's stock, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Donna E. Epps bought 895 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the purchase, 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.

Texas Pacific Land 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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