Sandbox Financial Partners LLC Boosts Position in Texas Pacific Land Corporation $TPL

Sandbox Financial Partners LLC grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 173.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,669 shares of the financial services provider’s stock after buying an additional 4,228 shares during the period. Sandbox Financial Partners LLC’s holdings in Texas Pacific Land were worth $1,915,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in Texas Pacific Land during the third quarter valued at approximately $29,000. CX Institutional purchased a new stake in Texas Pacific Land in the 3rd quarter worth approximately $30,000. Silicon Valley Capital Partners purchased a new stake in Texas Pacific Land in the 3rd quarter worth approximately $33,000. Triumph Capital Management bought a new position in Texas Pacific Land in the 3rd quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its holdings in Texas Pacific Land by 75.0% in the 3rd quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 18 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the purchase, the director owned 2,921 shares of the company’s stock, valued at $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TPL. KeyCorp upped their price target 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. Zacks Research raised Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, December 29th. 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 company’s stock. According to MarketBeat.com, Texas Pacific Land currently has a consensus rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Price Performance

TPL stock opened at $519.93 on Friday. The firm has a 50 day simple moving average of $432.71 and a two-hundred day simple moving average of $349.49. The stock has a market cap of $35.84 billion, a PE ratio of 74.52 and a beta of 0.83. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The firm had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $204.00 million.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors 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 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 is 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.