Motco Grows Position in Texas Pacific Land Corporation $TPL

Motco increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 195.5% during the 4th quarter, HoldingsChannel reports. The firm owned 3,744 shares of the financial services provider’s stock after buying an additional 2,477 shares during the period. Motco’s holdings in Texas Pacific Land were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPL. MassMutual Private Wealth & Trust FSB boosted its holdings in Texas Pacific Land by 363.2% in 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 last quarter. IFP Advisors Inc boosted its holdings in Texas Pacific Land by 185.3% in the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 63 shares during the last quarter. Quarry LP purchased a new stake in Texas Pacific Land in the third quarter worth approximately $29,000. Eagle Bay Advisors LLC purchased a new stake in Texas Pacific Land in the fourth quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners purchased a new stake in Texas Pacific Land in the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 1.2%

TPL stock opened at $397.60 on Friday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The stock has a market cap of $27.42 billion, a P/E ratio of 54.47 and a beta of 0.66. The business’s 50-day moving average price is $449.80 and its 200-day moving average price is $386.95.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share 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 for the quarter, compared to analysts’ expectations of $233.00 million. On average, equities research analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Donna E. Epps bought 895 shares of the 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 purchase, the director owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land 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 approximately $1,072,899. This trade represents a 42.98% decrease in their position. The SEC filing for this sale provides additional information. 6.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TPL has been the topic of several research reports. KeyCorp raised their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Finally, Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $639.00.

Texas Pacific Land Company 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.