Texas Pacific Land Corporation $TPL Shares Acquired by Investment Advisory Group LLC

Investment Advisory Group LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,904 shares of the financial services provider’s stock after acquiring an additional 1,936 shares during the period. Investment Advisory Group LLC’s holdings in Texas Pacific Land were worth $834,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 189,842 shares during the period. State Street Corp raised its stake in shares of Texas Pacific Land by 1.9% during the 3rd quarter. State Street Corp now owns 1,169,299 shares of the financial services provider’s stock worth $1,091,704,000 after buying an additional 22,296 shares during the period. Invesco Ltd. raised its stake in shares of Texas Pacific Land by 3.4% during the 3rd quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider’s stock worth $265,070,000 after buying an additional 9,389 shares during the period. Pacific Heights Asset Management LLC raised its position in shares of Texas Pacific Land by 12.1% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider’s stock worth $172,723,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Texas Pacific Land by 13.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 147,557 shares of the financial services provider’s stock worth $137,747,000 after purchasing an additional 17,107 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analysts Set New Price Targets

TPL has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. KeyCorp increased their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Stock Up 1.5%

Shares of TPL opened at $416.18 on Tuesday. The stock has a fifty day simple moving average of $473.36 and a two-hundred day simple moving average of $367.78. The company has a market capitalization of $28.69 billion, a PE ratio of 59.65 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.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results 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 business 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 disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. 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. Texas Pacific Land’s dividend payout ratio is 34.38%.

Insider Transactions at Texas Pacific Land

In related 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 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. This trade represents a 42.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction that occurred on 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. The trade was a 44.18% increase in their position. The SEC filing for this purchase provides additional information. 6.90% of the stock is currently owned by company insiders.

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.