Azzad Asset Management Inc. ADV Grows Holdings in Texas Pacific Land Corporation $TPL

Azzad Asset Management Inc. ADV grew its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 212.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,142 shares of the financial services provider’s stock after buying an additional 7,580 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Texas Pacific Land were worth $3,200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Flagship Harbor Advisors LLC boosted its stake in shares of Texas Pacific Land by 196.7% during the 4th quarter. Flagship Harbor Advisors LLC now owns 1,276 shares of the financial services provider’s stock valued at $367,000 after buying an additional 846 shares during the last quarter. Rathbones Group PLC boosted its stake in shares of Texas Pacific Land by 203.0% during the 4th quarter. Rathbones Group PLC now owns 4,545 shares of the financial services provider’s stock valued at $1,305,000 after buying an additional 3,045 shares during the last quarter. Trueblood Wealth Management LLC boosted its stake in shares of Texas Pacific Land by 200.8% during the 4th quarter. Trueblood Wealth Management LLC now owns 758 shares of the financial services provider’s stock valued at $218,000 after buying an additional 506 shares during the last quarter. Ethos Financial Group LLC boosted its stake in shares of Texas Pacific Land by 200.0% during the 4th quarter. Ethos Financial Group LLC now owns 4,842 shares of the financial services provider’s stock valued at $1,391,000 after buying an additional 3,228 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Texas Pacific Land by 210.8% during the 4th quarter. Signaturefd LLC now owns 258 shares of the financial services provider’s stock valued at $74,000 after buying an additional 175 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at $1,072,899. This trade 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 available at this link. Also, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares of the company’s stock, valued at $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is owned by company insiders.

Texas Pacific Land Price Performance

Shares of TPL opened at $448.59 on Tuesday. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The business’s fifty day moving average price is $466.15 and its 200 day moving average price is $363.67. The stock has a market capitalization of $30.93 billion, a PE ratio of 64.30 and a beta of 0.76.

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

Texas Pacific Land Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. KeyCorp increased their target price on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Friday, March 27th. One investment 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.com, the company presently has a consensus rating of “Hold” and an average price target of $639.00.

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.