Texas Pacific Land Corporation $TPL Stake Raised by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 119.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,189 shares of the financial services provider’s stock after buying an additional 52,432 shares during the period. Pacer Advisors Inc.’s holdings in Texas Pacific Land were worth $45,647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC increased its position in Texas Pacific Land by 171.9% in the 4th quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 55 shares during the period. IFP Advisors Inc boosted its position in Texas Pacific Land by 185.3% during the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 63 shares during the period. Quarry LP bought a new position in shares of Texas Pacific Land in the third quarter worth $29,000. Eagle Bay Advisors LLC bought a new position in shares of Texas Pacific Land in the fourth quarter worth $31,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Texas Pacific Land during the fourth quarter valued at $31,000. 59.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Chris Steddum sold 3,170 shares of Texas Pacific Land stock in a transaction dated 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 transaction, the chief financial officer directly owned 12,870 shares of the company’s stock, valued at $5,151,217.50. The trade was a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

TPL opened at $405.77 on Tuesday. The company has a market capitalization of $27.99 billion, a price-to-earnings ratio of 55.59 and a beta of 0.58. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The business has a 50 day moving average price of $395.12 and a two-hundred day moving average price of $421.32.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Texas Pacific Land in a research report on Wednesday, July 29th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $639.00.

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.