Stegent Equity Advisors Inc. Has $1.22 Million Stake in Texas Pacific Land Corporation $TPL

Stegent Equity Advisors Inc. raised its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 199.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,243 shares of the financial services provider’s stock after buying an additional 2,824 shares during the period. Stegent Equity Advisors Inc.’s holdings in Texas Pacific Land were worth $1,219,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TPL. MassMutual Private Wealth & Trust FSB boosted its position in Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 69 shares during the period. Quarry LP acquired a new position in Texas Pacific Land in the 3rd quarter valued at $29,000. CX Institutional acquired a new stake in shares of Texas Pacific Land in the third quarter valued at about $30,000. Silicon Valley Capital Partners acquired a new stake in Texas Pacific Land in the 3rd quarter valued at approximately $33,000. Finally, Triumph Capital Management bought a new position in Texas Pacific Land during the third quarter worth $36,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Trading Up 0.3%

Shares of TPL stock opened at $513.11 on Monday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The firm’s 50 day moving average is $452.74 and its 200-day moving average is $357.60. The firm has a market capitalization of $35.37 billion, a price-to-earnings ratio of 73.55 and a beta of 0.82.

Texas Pacific Land (NYSE:TPL) last issued 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 net margin of 60.31% and a return on equity of 36.18%. 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 company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.60 dividend. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. Texas Pacific Land’s payout ratio is 34.38%.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. The trade was a 44.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at $1,072,899. This trade represents a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TPL shares. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research upgraded Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. KeyCorp lifted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Texas Pacific Land presently has a consensus rating of “Hold” and a consensus target price of $639.00.

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.