Texas Pacific Land Corporation $TPL Shares Acquired by Czech National Bank

Czech National Bank increased its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 211.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,273 shares of the financial services provider’s stock after buying an additional 10,369 shares during the period. Czech National Bank’s holdings in Texas Pacific Land were worth $4,387,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its position 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 buying an additional 69 shares during the last quarter. Quarry LP purchased a new stake in shares of Texas Pacific Land during the third quarter worth about $29,000. CX Institutional purchased a new stake in shares of Texas Pacific Land during the third quarter worth about $30,000. Silicon Valley Capital Partners acquired a new position in shares of Texas Pacific Land in the third quarter worth about $33,000. Finally, Triumph Capital Management acquired a new position in shares of Texas Pacific Land in the third quarter worth about $36,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TPL shares. KeyCorp raised their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Zacks Research raised shares of Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. Finally, Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Texas Pacific Land has a consensus rating of “Hold” and an average price target of $639.00.

Insider Transactions at Texas Pacific Land

In related news, 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 transaction of $808,824.00. Following the completion of the sale, the chief accounting officer owned 2,133 shares of the company’s stock, valued at $1,072,899. This represents a 42.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donna E. Epps acquired 895 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $510.45 per share, for a total transaction of $456,852.75. Following 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. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 6.90% of the company’s stock.

Texas Pacific Land Trading Down 1.8%

Shares of NYSE TPL opened at $513.11 on Friday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The company has a market capitalization of $35.38 billion, a price-to-earnings ratio of 73.55 and a beta of 0.83. The business has a 50 day simple moving average of $452.74 and a 200-day simple moving average of $357.28.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.06. The business had revenue of $211.60 million for the quarter, compared to analyst estimates 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 announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were 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 was Monday, March 2nd. Texas Pacific Land’s dividend payout ratio is currently 34.38%.

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.