Motco Increases Stake in Texas Pacific Land Corporation $TPL

Motco lifted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 195.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,744 shares of the financial services provider’s stock after buying an additional 2,477 shares during the quarter. Motco’s holdings in Texas Pacific Land were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in Texas Pacific Land by 185.3% in the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 63 shares during the period. Mad River Investors grew its stake in Texas Pacific Land by 203.1% in the fourth quarter. Mad River Investors now owns 286,083 shares of the financial services provider’s stock worth $82,169,000 after purchasing an additional 191,711 shares during the period. Covestor Ltd grew its stake in Texas Pacific Land by 176.5% in the fourth quarter. Covestor Ltd now owns 672 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 429 shares during the period. PNC Financial Services Group Inc. grew its stake in Texas Pacific Land by 203.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 153,125 shares of the financial services provider’s stock worth $43,981,000 after purchasing an additional 102,667 shares during the period. Finally, Larson Financial Group LLC grew its stake in Texas Pacific Land by 195.9% in the fourth quarter. Larson Financial Group LLC now owns 1,213 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 803 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $397.60 on Friday. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The company’s 50-day moving average is $449.80 and its 200 day moving average is $386.95. The company has a market capitalization of $27.42 billion, a price-to-earnings ratio of 54.47 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. As a group, research analysts predict that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio is presently 32.88%.

Insider Buying and Selling

In other news, Director Donna E. Epps purchased 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 completion of the acquisition, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the 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 approximately $1,072,899. The trade was a 42.98% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

TPL has been the topic of several recent research reports. Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Finally, KeyCorp upped their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Pacific Land has a consensus rating of “Moderate Buy” and a consensus 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.