Key Points
- Director Donna Epps bought 895 shares on Feb. 25 at an average price of $510.45, increasing her ownership by 44.18% to 2,921 shares worth about $1.49 million.
- Texas Pacific Land beat quarterly expectations, reporting EPS of $1.79 vs. $1.73 and revenue of $211.6M vs. $204M, with a 36.18% ROE and a 60.31% net margin.
- The company raised its quarterly dividend to $0.60 (annualized $2.40, ~0.5% yield) with an ex-dividend date of March 2, while analysts such as KeyCorp have lifted price targets (KeyCorp: $639).
Texas Pacific Land Corporation (NYSE:TPL - Get Free Report) Director Donna Epps bought 895 shares of the business's stock in a transaction on 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 purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Texas Pacific Land Stock Up 2.3%
Shares of NYSE:TPL opened at $524.28 on Friday. The firm's 50 day moving average price is $362.67 and its 200 day moving average price is $325.50. The stock has a market cap of $36.14 billion, a price-to-earnings ratio of 75.15 and a beta of 0.95. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.73 by $0.06. The firm had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.
Texas Pacific Land Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Texas Pacific Land's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, March 2nd. Texas Pacific Land's dividend payout ratio is 30.52%.
Institutional Investors Weigh In On Texas Pacific Land
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in Texas Pacific Land by 363.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC raised its holdings in shares of Texas Pacific Land by 171.9% during the fourth quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 55 shares during the period. 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 valued at $28,000 after acquiring an additional 63 shares during the period. Quarry LP purchased a new position in shares of Texas Pacific Land during the third quarter valued at approximately $29,000. Finally, CX Institutional bought a new stake in Texas Pacific Land during the third quarter worth $30,000. Institutional investors own 59.94% of the company's stock.
Analysts Set New Price Targets
TPL has been the subject of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a report on Monday, December 29th. KeyCorp boosted their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Finally, Zacks Research upgraded Texas Pacific Land to a "hold" rating in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $639.00.
Get Our Latest Stock Report on TPL
Texas Pacific Land Company Profile
(
Get Free Report)
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.
Further Reading
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