Texas Pacific Land Corporation $TPL Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 332.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,562 shares of the financial services provider’s stock after buying an additional 1,969 shares during the period. Assenagon Asset Management S.A.’s holdings in Texas Pacific Land were worth $736,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TPL. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. KeyCorp boosted their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Zacks Research upgraded Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Texas Pacific Land has an average rating of “Hold” and a consensus price target of $639.00.

Insider Activity

In other news, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. This represents a 42.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Price Performance

NYSE TPL opened at $438.96 on Thursday. The company has a market capitalization of $30.26 billion, a P/E ratio of 62.92 and a beta of 0.76. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The company’s 50 day simple moving average is $460.12 and its 200 day simple moving average is $360.38.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. The company had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis 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 34.38%.

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.