Texas Pacific Land Corporation $TPL Stock Holdings Boosted by Corsicana & Co.

Corsicana & Co. grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the 4th quarter, Holdings Channel reports. The firm owned 5,070 shares of the financial services provider’s stock after purchasing an additional 3,380 shares during the period. Corsicana & Co.’s holdings in Texas Pacific Land were worth $1,456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TPL. Quarry LP acquired a new stake in shares of Texas Pacific Land in the third quarter valued at $29,000. CX Institutional bought a new position in Texas Pacific Land during the third quarter valued at about $30,000. Silicon Valley Capital Partners acquired a new position in Texas Pacific Land during the third quarter worth about $33,000. Triumph Capital Management acquired a new position in Texas Pacific Land during the third quarter worth about $36,000. Finally, Versant Capital Management Inc raised its position in Texas Pacific Land by 75.0% in the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 18 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

TPL has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. KeyCorp boosted their target price 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. Finally, Zacks Research upgraded shares of Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Price Performance

NYSE TPL opened at $519.93 on Friday. The firm has a market capitalization of $35.84 billion, a price-to-earnings ratio of 74.52 and a beta of 0.83. The company has a 50 day simple moving average of $432.71 and a 200-day simple moving average of $349.24. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. The firm had revenue of $211.60 million for the quarter, compared to the consensus estimate 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 business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s dividend payout ratio is presently 34.38%.

Insiders Place Their Bets

In other news, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the transaction, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were 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. This trade represents 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.

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.