Accelerate Investment Advisors LLC Buys 3,655 Shares of Texas Pacific Land Corporation $TPL

Accelerate Investment Advisors LLC boosted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 199.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,483 shares of the financial services provider’s stock after acquiring an additional 3,655 shares during the quarter. Texas Pacific Land accounts for 1.1% of Accelerate Investment Advisors LLC’s portfolio, making the stock its 19th largest position. Accelerate Investment Advisors LLC’s holdings in Texas Pacific Land were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in TPL. Westwind Capital increased its position in shares of Texas Pacific Land by 176.8% during the 4th quarter. Westwind Capital now owns 19,789 shares of the financial services provider’s stock worth $5,684,000 after purchasing an additional 12,641 shares in the last quarter. IFS Advisors LLC boosted its position in Texas Pacific Land by 200.0% in the fourth quarter. IFS Advisors LLC now owns 198 shares of the financial services provider’s stock valued at $57,000 after buying an additional 132 shares in the last quarter. SG Americas Securities LLC grew its stake in Texas Pacific Land by 21.7% during the fourth quarter. SG Americas Securities LLC now owns 9,234 shares of the financial services provider’s stock worth $2,652,000 after buying an additional 1,645 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Texas Pacific Land by 332.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,562 shares of the financial services provider’s stock worth $736,000 after buying an additional 1,969 shares during the last quarter. Finally, TABR Capital Management LLC acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth approximately $1,336,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $527.70 on Tuesday. The stock has a market capitalization of $36.38 billion, a PE ratio of 75.64 and a beta of 0.82. The company has a 50 day moving average price of $437.06 and a 200 day moving average price of $351.35. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20.

Texas Pacific Land (NYSE:TPL) last released its earnings results 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 company had revenue of $211.60 million during the quarter, compared to analysts’ expectations of $204.00 million.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 0.5%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s dividend payout ratio (DPR) is presently 34.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TPL shares. Zacks Research upgraded shares of Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. KeyCorp raised their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. One 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $639.00.

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the business’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 transaction of $808,824.00. Following the completion of the sale, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at $1,072,899. The trade was a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Donna E. Epps purchased 895 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the purchase, the director owned 2,921 shares of the company’s stock, valued at $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 6.90% of the company’s stock.

Texas Pacific Land Company 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.