Trust Co. of Vermont Raises Stake in Texas Pacific Land Corporation $TPL

Trust Co. of Vermont increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,500 shares of the financial services provider’s stock after buying an additional 3,000 shares during the period. Trust Co. of Vermont’s holdings in Texas Pacific Land were worth $1,292,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI boosted its stake in Texas Pacific Land by 1.7% in the third quarter. Citizens Financial Group Inc. RI now owns 704 shares of the financial services provider’s stock valued at $657,000 after acquiring an additional 12 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Texas Pacific Land by 21.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 12 shares during the last quarter. PFG Investments LLC increased its stake in shares of Texas Pacific Land by 3.6% during the 3rd quarter. PFG Investments LLC now owns 373 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 13 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Texas Pacific Land by 0.6% in the 3rd quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock worth $2,050,000 after purchasing an additional 14 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in Texas Pacific Land by 9.1% in the third quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 14 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on TPL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, KeyCorp lifted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned 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 Trading Up 1.1%

TPL opened at $444.02 on Friday. The company has a 50 day moving average of $462.08 and a 200 day moving average of $360.96. The company has a market cap of $30.61 billion, a PE ratio of 63.64 and a beta of 0.76. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 0.5%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s dividend payout ratio is 34.38%.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average cost of $510.45 per share, with a total value 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 represents a 44.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is owned by insiders.

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.