Texas Pacific Land Corporation $TPL Shares Bought by 1900 Wealth Management LLC

1900 Wealth Management LLC lifted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,433 shares of the financial services provider’s stock after acquiring an additional 11,622 shares during the quarter. 1900 Wealth Management LLC’s holdings in Texas Pacific Land were worth $5,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TPL. Quarry LP acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $29,000. CX Institutional purchased a new position in Texas Pacific Land during the 3rd quarter worth approximately $30,000. Silicon Valley Capital Partners acquired a new stake in Texas Pacific Land during the 3rd quarter valued at $33,000. Triumph Capital Management purchased a new stake in shares of Texas Pacific Land in the third quarter valued at $36,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Texas Pacific Land by 75.0% in 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 and hedge funds.

Texas Pacific Land Stock Down 0.0%

NYSE:TPL opened at $444.02 on Friday. The company’s 50 day moving average is $464.02 and its 200-day moving average is $361.90. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The firm has a market cap of $30.61 billion, a price-to-earnings ratio of 63.64 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last posted 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. The business had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.60 dividend. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. 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%. Texas Pacific Land’s payout ratio is 34.38%.

Wall Street Analyst Weigh In

TPL has been the topic of a number of research analyst reports. KeyCorp lifted 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. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One investment 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $639.00.

Insider Activity at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donna E. Epps bought 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director 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 SEC filing for this purchase provides additional information. Insiders own 6.90% of the company’s stock.

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.