Texas Pacific Land Corporation $TPL Shares Purchased by Corsicana & Co.

Corsicana & Co. grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,070 shares of the financial services provider’s stock after acquiring an additional 3,380 shares during the period. Corsicana & Co.’s holdings in Texas Pacific Land were worth $1,456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Swiss National Bank grew its position in shares of Texas Pacific Land by 7.4% in the 2nd quarter. Swiss National Bank now owns 59,151 shares of the financial services provider’s stock worth $62,487,000 after acquiring an additional 4,100 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Texas Pacific Land by 8.8% in the 2nd quarter. Prudential Financial Inc. now owns 10,966 shares of the financial services provider’s stock valued at $11,584,000 after acquiring an additional 884 shares during the last quarter. Titleist Asset Management LLC raised its position in shares of Texas Pacific Land by 262.4% during the 2nd quarter. Titleist Asset Management LLC now owns 1,573 shares of the financial services provider’s stock valued at $1,662,000 after acquiring an additional 1,139 shares in the last quarter. 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 valued at $137,747,000 after acquiring an additional 17,107 shares in the last quarter. Finally, Westerkirk Capital Inc. bought a new position in Texas Pacific Land during the second quarter worth $2,229,000. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

TPL has been the subject of a number of research reports. Zacks Research raised shares of Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. KeyCorp increased their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $639.00.

Texas Pacific Land Price Performance

TPL opened at $519.93 on Friday. The stock’s 50 day moving average price is $432.71 and its 200 day moving average price is $349.24. The stock has a market cap of $35.84 billion, a P/E ratio of 74.52 and a beta of 0.83. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month 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. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The company had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.60 dividend. 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. This represents a $2.40 annualized dividend and a yield of 0.5%. Texas Pacific Land’s dividend payout ratio is currently 34.38%.

Insider Transactions at Texas Pacific Land

In related news, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. This represents a 44.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the transaction, the chief accounting officer directly owned 2,133 shares in the company, 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. Corporate 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.