Pekin Hardy Strauss Inc. Takes $511,000 Position in Texas Pacific Land Corporation $TPL

Pekin Hardy Strauss Inc. bought a new stake in Texas Pacific Land Corporation (NYSE:TPL) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,780 shares of the financial services provider’s stock, valued at approximately $511,000.

Other large investors also recently made changes to their positions in the company. Archer Investment Corp boosted its stake in Texas Pacific Land by 152.4% during the 4th quarter. Archer Investment Corp now owns 3,619 shares of the financial services provider’s stock valued at $1,039,000 after purchasing an additional 2,185 shares during the last quarter. Vest Financial LLC boosted its stake in Texas Pacific Land by 864.7% during the 4th quarter. Vest Financial LLC now owns 8,210 shares of the financial services provider’s stock valued at $2,358,000 after purchasing an additional 7,359 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in Texas Pacific Land by 187.9% during the 4th quarter. Wealthfront Advisers LLC now owns 26,833 shares of the financial services provider’s stock valued at $7,707,000 after purchasing an additional 17,514 shares during the last quarter. Certuity LLC boosted its stake in Texas Pacific Land by 194.3% during the 4th quarter. Certuity LLC now owns 3,220 shares of the financial services provider’s stock valued at $925,000 after purchasing an additional 2,126 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Texas Pacific Land by 136.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,887 shares of the financial services provider’s stock valued at $9,159,000 after purchasing an additional 18,395 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 1.1%

Shares of NYSE TPL opened at $443.78 on Friday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The stock’s 50 day moving average price is $481.54 and its 200-day moving average price is $377.72. The company has a market capitalization of $30.59 billion, a PE ratio of 63.61 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last announced its 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 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 the consensus estimate of $204.00 million. As a group, research analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, March 2nd. This is a boost 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 equities analysts have issued reports on the company. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Friday, March 27th. Finally, KeyCorp lifted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $639.00.

Insider Buying and Selling

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. The trade was a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is owned by insiders.

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.