Composition Wealth LLC Has $6.55 Million Stake in Texas Pacific Land Corporation $TPL

Composition Wealth LLC lifted its position in Texas Pacific Land Corporation (NYSE:TPL) by 210.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,806 shares of the financial services provider’s stock after purchasing an additional 15,462 shares during the quarter. Composition Wealth LLC’s holdings in Texas Pacific Land were worth $6,550,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TPL. Vanguard Group Inc. raised its stake in shares of Texas Pacific Land by 192.8% in the fourth quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock valued at $2,170,512,000 after purchasing an additional 4,975,738 shares in the last quarter. UBS Group AG grew its position in Texas Pacific Land by 232.4% in the fourth quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock valued at $130,982,000 after acquiring an additional 318,842 shares during the period. York GP Ltd. grew its position in Texas Pacific Land by 195.1% in the fourth quarter. York GP Ltd. now owns 270,600 shares of the financial services provider’s stock valued at $77,722,000 after acquiring an additional 178,900 shares during the period. M&T Bank Corp grew its position in Texas Pacific Land by 20,072.4% in the fourth quarter. M&T Bank Corp now owns 155,529 shares of the financial services provider’s stock valued at $44,671,000 after acquiring an additional 154,758 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Texas Pacific Land by 192.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider’s stock valued at $38,410,000 after acquiring an additional 88,053 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 NYSE:TPL opened at $433.94 on Friday. The business’s fifty day moving average price is $481.54 and its two-hundred day moving average price is $378.28. The stock has a market capitalization of $29.92 billion, a price-to-earnings ratio of 62.20 and a beta of 0.67. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.73 by $0.06. The company had revenue of $211.60 million for 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%. Research analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 34.38%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. KeyCorp upped their price target 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. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $639.00.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is currently owned by corporate insiders.

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.