North Point Portfolio Managers Corp OH Has $10.18 Million Stake in Texas Pacific Land Corporation $TPL

North Point Portfolio Managers Corp OH boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 196.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,457 shares of the financial services provider’s stock after buying an additional 23,511 shares during the period. North Point Portfolio Managers Corp OH’s holdings in Texas Pacific Land were worth $10,184,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TPL. MassMutual Private Wealth & Trust FSB boosted its stake in 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 buying an additional 69 shares in the last quarter. Quarry LP acquired a new stake in Texas Pacific Land in the 3rd quarter valued at $29,000. CX Institutional bought a new position in Texas Pacific Land in the 3rd quarter valued at $30,000. Eagle Bay Advisors LLC bought a new position in Texas Pacific Land in the 4th quarter valued at $31,000. Finally, Silicon Valley Capital Partners bought a new position in Texas Pacific Land in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TPL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. 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, Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $639.00.

Texas Pacific Land Stock Up 0.5%

Shares of TPL stock opened at $439.99 on Thursday. The firm has a market cap of $30.33 billion, a price-to-earnings ratio of 63.07 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. The stock has a 50-day moving average price of $481.52 and a 200 day moving average price of $372.90.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.06. The firm had revenue of $211.60 million during the quarter, compared to analysts’ expectations of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%. Sell-side analysts predict that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend 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 (DPR) is presently 34.38%.

Insider Activity

In related news, CAO Stephanie Buffington sold 1,608 shares of the company’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 completion of the sale, the chief accounting officer owned 2,133 shares in the company, valued at approximately $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Donna E. Epps acquired 895 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the acquisition, the director directly 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.90% of the company’s stock.

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.