Texas Pacific Land Corporation $TPL Shares Purchased by Howard Financial Services LTD.

Howard Financial Services LTD. lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 200.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,053 shares of the financial services provider’s stock after acquiring an additional 2,703 shares during the period. Howard Financial Services LTD.’s holdings in Texas Pacific Land were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI increased its stake in Texas Pacific Land by 1.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 704 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 12 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Texas Pacific Land by 21.4% during the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after buying an additional 12 shares during the last quarter. PFG Investments LLC grew its holdings in shares of Texas Pacific Land by 3.6% during the third quarter. PFG Investments LLC now owns 373 shares of the financial services provider’s stock valued at $348,000 after buying an additional 13 shares during the last quarter. Truist Financial Corp increased its position 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 valued at $2,050,000 after acquiring an additional 14 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of Texas Pacific Land by 9.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 14 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $534.91 on Wednesday. The stock has a market cap of $36.88 billion, a PE ratio of 76.67 and a beta of 0.83. The firm has a fifty day moving average price of $441.33 and a 200 day moving average price of $353.02. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.73 by $0.06. The company had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.4%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 34.38%.

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. The trade was a 42.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Donna E. Epps acquired 895 shares of the stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director owned 2,921 shares in the company, valued at approximately $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 company insiders.

Analysts Set New Price Targets

TPL has been the subject of a number of research reports. Zacks Research raised Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. KeyCorp raised their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.