Texas Pacific Land Corporation $TPL Shares Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV grew its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 212.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,142 shares of the financial services provider’s stock after buying an additional 7,580 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Texas Pacific Land were worth $3,200,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TPL. Vanguard Group Inc. increased its holdings in shares of Texas Pacific Land by 7.9% during the third quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock valued at $2,409,938,000 after purchasing an additional 189,842 shares during the period. Lawson Kroeker Investment Management Inc. NE increased its holdings in shares of Texas Pacific Land by 187.4% during the fourth quarter. Lawson Kroeker Investment Management Inc. NE now owns 114,220 shares of the financial services provider’s stock valued at $32,806,000 after purchasing an additional 74,478 shares during the period. Danske Bank A S acquired a new position in shares of Texas Pacific Land during the third quarter valued at $52,606,000. Blue Trust Inc. increased its holdings in shares of Texas Pacific Land by 171.4% during the fourth quarter. Blue Trust Inc. now owns 79,108 shares of the financial services provider’s stock valued at $22,721,000 after purchasing an additional 49,955 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Texas Pacific Land by 65.1% during the third quarter. AQR Capital Management LLC now owns 90,589 shares of the financial services provider’s stock valued at $84,578,000 after purchasing an additional 35,716 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps acquired 895 shares of the firm’s stock in a transaction 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 transaction, the director owned 2,921 shares of the company’s stock, valued at $1,491,024.45. The trade was a 44.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s 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 sale, the chief accounting officer 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 disclosure for this sale is available in the SEC filing. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TPL. KeyCorp raised their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. One 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. Based on data from MarketBeat, Texas Pacific Land has an average rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Stock Up 1.0%

NYSE:TPL opened at $448.59 on Tuesday. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The firm has a market capitalization of $30.93 billion, a price-to-earnings ratio of 64.30 and a beta of 0.76. The stock has a fifty day simple moving average of $466.15 and a 200 day simple moving average of $363.67.

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

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.60 per share. 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%.

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.