Texas Pacific Land Corporation $TPL Position Lifted by Continental Investors Services Inc.

Continental Investors Services Inc. grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 197.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,180 shares of the financial services provider’s stock after acquiring an additional 1,446 shares during the period. Continental Investors Services Inc.’s holdings in Texas Pacific Land were worth $626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TPL. MassMutual Private Wealth & Trust FSB raised its stake in shares of 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 in the last quarter. Summit Securities Group LLC grew its stake in Texas Pacific Land by 171.9% in the fourth quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 55 shares in the last quarter. 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 worth $28,000 after purchasing an additional 63 shares in the last quarter. Quarry LP bought a new stake in Texas Pacific Land in the third quarter valued at about $29,000. Finally, Eagle Bay Advisors LLC bought a new stake in Texas Pacific Land in the fourth quarter valued at about $31,000. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TPL shares. KeyCorp upped 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. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Finally, Zacks Research lowered Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Stock Performance

NYSE TPL opened at $355.05 on Friday. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The company has a 50-day simple moving average of $403.01 and a 200-day simple moving average of $397.26. The firm has a market capitalization of $24.49 billion, a PE ratio of 48.64 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. Equities analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 1st. Texas Pacific Land’s payout ratio is presently 32.88%.

Insider Activity at Texas Pacific Land

In other news, CFO Chris Steddum sold 3,170 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $400.25, for a total transaction of $1,268,792.50. Following the completion of the transaction, the chief financial officer directly owned 12,870 shares of the company’s stock, valued at approximately $5,151,217.50. This represents a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.90% of the company’s stock.

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.