1,577 Texas Pacific Land Corporation $TPL Shares Acquired by Sapient Capital LLC

Sapient Capital LLC boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,522 shares of the financial services provider’s stock after acquiring an additional 1,577 shares during the period. Sapient Capital LLC owned 0.07% of Texas Pacific Land worth $16,136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC increased its position in shares of Texas Pacific Land by 194.9% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 10,333,762 shares of the financial services provider’s stock worth $2,968,063,000 after buying an additional 6,829,070 shares during the period. State Street Corp lifted its holdings in Texas Pacific Land by 4.8% in the second quarter. State Street Corp now owns 3,964,748 shares of the financial services provider’s stock valued at $1,735,132,000 after buying an additional 179,791 shares during the period. First Manhattan CO. LLC. boosted its position in Texas Pacific Land by 200.1% during the fourth quarter. First Manhattan CO. LLC. now owns 1,013,363 shares of the financial services provider’s stock valued at $291,058,000 after acquiring an additional 675,682 shares during the last quarter. Pacific Heights Asset Management LLC bought a new stake in Texas Pacific Land during the second quarter valued at $258,208,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Texas Pacific Land by 6.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 477,430 shares of the financial services provider’s stock worth $208,942,000 after acquiring an additional 30,911 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TPL. Zacks Research upgraded Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Texas Pacific Land in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Price Performance

Shares of NYSE:TPL traded up $12.52 during trading on Thursday, hitting $358.31. 323,340 shares of the company were exchanged, compared to its average volume of 442,285. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The stock has a 50 day moving average of $361.58 and a 200 day moving average of $395.91. The company has a market cap of $24.71 billion, a PE ratio of 45.66 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, topping the consensus estimate of $2.18 by $0.05. The business had revenue of $246.10 million during the quarter, compared to the consensus estimate of $249.50 million. Texas Pacific Land had a return on equity of 35.76% and a net margin of 60.32%. Sell-side analysts forecast that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.60 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio is currently 30.57%.

About Texas Pacific Land

Texas Pacific Land Corporation (NYSE:TPL) is a land and resource management company focused on properties and mineral interests in Texas. The company traces its history to the Texas and Pacific Railway, for which the Texas Pacific Land Trust was established in 1888. It was later reorganized as a corporation in 2021.

Texas Pacific Land owns more than 800,000 acres, primarily in West Texas, including substantial holdings in the Permian Basin. Its operations include managing land, granting easements and rights-of-way, and leasing acreage for uses such as oil and gas development, pipelines, power transmission, and other infrastructure.