Czech National Bank Increases Stake in Texas Pacific Land Corporation $TPL

Czech National Bank increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 211.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,273 shares of the financial services provider’s stock after acquiring an additional 10,369 shares during the period. Czech National Bank’s holdings in Texas Pacific Land were worth $4,387,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Quarry LP purchased a new position in Texas Pacific Land during the third quarter worth approximately $29,000. CX Institutional purchased a new stake in shares of Texas Pacific Land during the 3rd quarter valued at $30,000. Silicon Valley Capital Partners purchased a new stake in shares of Texas Pacific Land during the 3rd quarter valued at $33,000. Triumph Capital Management acquired a new stake in shares of Texas Pacific Land during the 3rd quarter worth $36,000. Finally, Versant Capital Management Inc increased its holdings in shares of Texas Pacific Land by 75.0% during the 3rd quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock worth $39,000 after buying an additional 18 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the 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 completion of the sale, the chief accounting officer owned 2,133 shares in the company, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction that occurred 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 acquisition, the director 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 SEC filing for this purchase provides additional information. 6.90% of the stock is currently owned by company insiders.

Texas Pacific Land Trading Down 1.8%

Shares of TPL stock opened at $513.11 on Friday. The company has a market cap of $35.38 billion, a PE ratio of 73.55 and a beta of 0.83. The company’s fifty day simple moving average is $452.74 and its 200-day simple moving average is $357.28. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20.

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

Texas Pacific Land Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. KeyCorp lifted their target price 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 upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Zacks Research upgraded Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $639.00.

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.