Dimensional Fund Advisors LP Acquires 17,107 Shares of Texas Pacific Land Corporation $TPL

Dimensional Fund Advisors LP raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 13.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 147,557 shares of the financial services provider’s stock after purchasing an additional 17,107 shares during the period. Dimensional Fund Advisors LP owned 0.64% of Texas Pacific Land worth $137,747,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Swiss National Bank increased its holdings in Texas Pacific Land by 7.4% during the second quarter. Swiss National Bank now owns 59,151 shares of the financial services provider’s stock valued at $62,487,000 after buying an additional 4,100 shares during the period. Prudential Financial Inc. raised its stake in Texas Pacific Land by 8.8% in the second quarter. Prudential Financial Inc. now owns 10,966 shares of the financial services provider’s stock worth $11,584,000 after buying an additional 884 shares in the last quarter. Titleist Asset Management LLC lifted its holdings in Texas Pacific Land by 262.4% during the second quarter. Titleist Asset Management LLC now owns 1,573 shares of the financial services provider’s stock worth $1,662,000 after buying an additional 1,139 shares during the period. Westerkirk Capital Inc. purchased a new stake in Texas Pacific Land during the second quarter worth $2,229,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Texas Pacific Land by 0.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 184,205 shares of the financial services provider’s stock valued at $194,592,000 after acquiring an additional 720 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Zacks Research upgraded Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. KeyCorp raised 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. Wall Street Zen lowered Texas Pacific Land from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Trading Down 3.6%

Shares of TPL stock opened at $520.50 on Wednesday. The business’s fifty day simple moving average is $395.34 and its 200-day simple moving average is $337.32. The company 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 12-month low of $269.23 and a 12-month high of $547.20.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $204.00 million.

Texas Pacific Land Increases Dividend

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

Insider Activity

In related news, Director Donna E. Epps acquired 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased 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 of the company’s stock, valued at $1,491,024.45. This trade represents a 44.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 2,133 shares of the company’s stock, 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. 6.90% of the stock is currently owned by company insiders.

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.