Certuity LLC Grows Position in Texas Pacific Land Corporation $TPL

Certuity LLC grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 194.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,220 shares of the financial services provider’s stock after buying an additional 2,126 shares during the period. Certuity LLC’s holdings in Texas Pacific Land were worth $925,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its position in Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after buying an additional 69 shares in the last quarter. Quarry LP purchased a new position in Texas Pacific Land during the third quarter worth $29,000. CX Institutional purchased a new position in Texas Pacific Land during the third quarter worth $30,000. Eagle Bay Advisors LLC purchased a new stake in shares of Texas Pacific Land in the fourth quarter valued at $31,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Texas Pacific Land in the third quarter valued at $33,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TPL. Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research report on Friday, March 27th. KeyCorp lifted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Texas Pacific Land currently has an average rating of “Moderate Buy” and a consensus price target of $639.00.

Insider Transactions at Texas Pacific Land

In related news, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the purchase, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. This trade represents a 44.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the transaction, the chief accounting officer owned 2,133 shares in the company, valued at approximately $1,072,899. This represents a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Trading Down 1.3%

TPL stock opened at $431.22 on Wednesday. The stock has a 50-day moving average price of $482.40 and a two-hundred day moving average price of $376.82. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The company has a market cap of $29.73 billion, a PE ratio of 61.81 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last posted its quarterly 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 return on equity of 36.18% and a net margin of 60.31%.The firm had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million. Equities analysts forecast that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, March 2nd. Texas Pacific Land’s payout ratio is presently 34.38%.

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.