Sapient Capital LLC Has $13.92 Million Stock Position in Texas Pacific Land Corporation $TPL

Sapient Capital LLC raised its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 166.3% in the 4th quarter, HoldingsChannel reports. The fund owned 47,634 shares of the financial services provider’s stock after acquiring an additional 29,749 shares during the period. Sapient Capital LLC’s holdings in Texas Pacific Land were worth $13,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. North Dakota State Investment Board acquired a new position in Texas Pacific Land in the 4th quarter valued at approximately $568,000. Barr E S & Co. boosted its stake in shares of Texas Pacific Land by 200.0% in the 4th quarter. Barr E S & Co. now owns 1,350 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 900 shares during the last quarter. Canada Post Corp Registered Pension Plan boosted its stake in shares of Texas Pacific Land by 296.8% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 1,230 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 920 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of Texas Pacific Land by 115.2% in the 4th quarter. Stephens Inc. AR now owns 2,163 shares of the financial services provider’s stock valued at $621,000 after purchasing an additional 1,158 shares during the last quarter. Finally, DNB Asset Management AS boosted its stake in shares of Texas Pacific Land by 200.0% in the 4th quarter. DNB Asset Management AS now owns 11,889 shares of the financial services provider’s stock valued at $3,415,000 after purchasing an additional 7,926 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $385.55 on Monday. The firm’s fifty day moving average is $460.34 and its 200-day moving average is $384.54. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The firm has a market cap of $26.59 billion, a P/E ratio of 52.82 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last released its 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 net margin of 60.03% and a return on equity of 35.52%. The company had revenue of $236.80 million for the quarter, compared to the consensus estimate of $233.00 million. As a group, sell-side analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land’s payout ratio is presently 32.88%.

Insiders Place Their Bets

In related news, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the transaction, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. The trade was 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 owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TPL. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Zacks Research raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Finally, KeyCorp upped their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.