Yousif Capital Management LLC Purchases 3,491 Shares of Texas Pacific Land Corporation $TPL

Yousif Capital Management LLC grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 139.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,992 shares of the financial services provider’s stock after purchasing an additional 3,491 shares during the quarter. Yousif Capital Management LLC’s holdings in Texas Pacific Land were worth $1,721,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TPL. Vanguard Group Inc. raised its holdings in Texas Pacific Land by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock worth $2,409,938,000 after purchasing an additional 189,842 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE raised its holdings in Texas Pacific Land by 187.4% during the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 114,220 shares of the financial services provider’s stock worth $32,806,000 after purchasing an additional 74,478 shares during the last quarter. Danske Bank A S bought a new position in Texas Pacific Land during the 3rd quarter worth approximately $52,606,000. Blue Trust Inc. raised its holdings in Texas Pacific Land by 171.4% during the 4th quarter. Blue Trust Inc. now owns 79,108 shares of the financial services provider’s stock worth $22,721,000 after purchasing an additional 49,955 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Texas Pacific Land by 65.1% during the 3rd quarter. AQR Capital Management LLC now owns 90,589 shares of the financial services provider’s stock worth $84,578,000 after purchasing an additional 35,716 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

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

Texas Pacific Land Stock Down 1.2%

Shares of TPL stock opened at $411.94 on Wednesday. The company has a market cap of $28.40 billion, a price-to-earnings ratio of 59.05 and a beta of 0.76. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The firm has a 50 day moving average of $474.87 and a 200-day moving average of $368.44.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.73 by $0.06. The company had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s payout ratio is 34.38%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. KeyCorp raised their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.