Barclays PLC Has $38.73 Million Stock Position in Texas Pacific Land Corporation $TPL

Barclays PLC lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 5.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,482 shares of the financial services provider’s stock after purchasing an additional 1,984 shares during the quarter. Barclays PLC owned 0.18% of Texas Pacific Land worth $38,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of TPL. CX Institutional bought a new position in Texas Pacific Land in the 3rd quarter worth $30,000. Versant Capital Management Inc grew its position in shares of Texas Pacific Land by 75.0% in the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 18 shares during the last quarter. IMA Advisory Services Inc. grew its position in shares of Texas Pacific Land by 77.8% in the third quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 21 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth about $46,000. Finally, Assetmark Inc. lifted its position in shares of Texas Pacific Land by 33.3% during the 2nd quarter. Assetmark Inc. now owns 52 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 3.6%

TPL opened at $520.50 on Wednesday. The stock has a market cap of $35.88 billion, a PE ratio of 74.61 and a beta of 0.82. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The stock’s 50 day simple moving average is $395.34 and its 200-day simple moving average is $337.32.

Texas Pacific Land (NYSE:TPL) last issued its earnings results 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 firm had revenue of $211.60 million during the quarter, compared to analysts’ expectations of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.60 per share. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 34.38%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. KeyCorp raised their target price on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Wall Street Zen cut Texas Pacific Land from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research raised shares of Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Texas Pacific Land presently has an average rating of “Hold” and an average price target of $639.00.

Insider Activity

In related news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction dated Tuesday, February 24th. The shares were 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 of the company’s stock, valued at $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donna E. Epps purchased 895 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were acquired at an average price of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 6.90% of the stock is currently owned by 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.