Texas Pacific Land (NYSE:TPL) Upgraded at Wall Street Zen

Texas Pacific Land (NYSE:TPL) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Other analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. KeyCorp upped their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Trading Up 0.6%

Shares of TPL stock opened at $532.36 on Friday. Texas Pacific Land has a twelve month low of $269.23 and a twelve month high of $547.20. The company’s 50-day moving average price is $409.64 and its 200-day moving average price is $341.84. The stock has a market cap of $36.70 billion, a price-to-earnings ratio of 76.31 and a beta of 0.83.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $211.60 million during the quarter, compared to analysts’ expectations of $204.00 million.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value 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. This represents a 42.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Donna E. Epps acquired 895 shares of the stock in a transaction that occurred 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 $1,491,024.45. This trade represents a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TPL. Quarry LP acquired a new stake in shares of Texas Pacific Land in the third quarter valued at $29,000. CX Institutional acquired a new position in Texas Pacific Land during the 3rd quarter worth about $30,000. Silicon Valley Capital Partners purchased a new position in Texas Pacific Land during the 3rd quarter valued at about $33,000. Triumph Capital Management purchased a new position in Texas Pacific Land during the 3rd quarter valued at about $36,000. Finally, Versant Capital Management Inc grew its position in Texas Pacific Land by 75.0% in the 3rd quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 18 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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.