Trust Co. of Vermont Buys 3,000 Shares of Texas Pacific Land Corporation $TPL

Trust Co. of Vermont grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,500 shares of the financial services provider’s stock after purchasing an additional 3,000 shares during the period. Trust Co. of Vermont’s holdings in Texas Pacific Land were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Citizens Financial Group Inc. RI increased its position in Texas Pacific Land by 1.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 704 shares of the financial services provider’s stock valued at $657,000 after buying an additional 12 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Texas Pacific Land by 21.4% in the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 12 shares in the last quarter. PFG Investments LLC grew its stake in Texas Pacific Land by 3.6% in the third quarter. PFG Investments LLC now owns 373 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 13 shares during the period. Truist Financial Corp increased its holdings in shares of Texas Pacific Land by 0.6% during the third quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock valued at $2,050,000 after acquiring an additional 14 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Texas Pacific Land by 9.1% during the third quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 14 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TPL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. KeyCorp boosted their price target on shares of 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, Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Texas Pacific Land presently has a consensus rating of “Hold” and a consensus price target of $639.00.

Insider Activity

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of Texas Pacific Land stock in a transaction dated Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the SEC, which is accessible 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 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. The trade was a 42.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 6.90% of the company’s stock.

Texas Pacific Land Trading Up 1.1%

Shares of NYSE:TPL opened at $444.02 on Friday. The stock’s fifty day simple moving average is $462.08 and its two-hundred day simple moving average is $360.96. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The stock has a market cap of $30.61 billion, a PE ratio of 63.64 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last posted its earnings results 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 firm had revenue of $211.60 million during the quarter, compared to analyst estimates 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s payout ratio is currently 34.38%.

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.