Texas Pacific Land Corporation $TPL Shares Acquired by Ethos Financial Group LLC

Ethos Financial Group LLC raised its position in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,842 shares of the financial services provider’s stock after purchasing an additional 3,228 shares during the period. Ethos Financial Group LLC’s holdings in Texas Pacific Land were worth $1,391,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Texas Pacific Land by 363.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 69 shares during the period. Quarry LP acquired a new stake in shares of Texas Pacific Land in the third quarter worth approximately $29,000. CX Institutional acquired a new stake in shares of Texas Pacific Land in the third quarter worth approximately $30,000. Silicon Valley Capital Partners purchased a new stake in Texas Pacific Land in the third quarter valued at approximately $33,000. Finally, Triumph Capital Management purchased a new stake in Texas Pacific Land in the third quarter valued at approximately $36,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction 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 transaction, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was 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 in the company, valued at $1,072,899. This represents a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on TPL shares. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Finally, KeyCorp upped their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Stock Down 0.0%

TPL stock opened at $444.02 on Monday. The stock’s 50 day moving average is $464.02 and its two-hundred day moving average is $362.65. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The company has a market capitalization of $30.61 billion, a PE ratio of 63.64 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The business had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s dividend payout ratio is currently 34.38%.

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.