Mad River Investors Grows Stock Holdings in Texas Pacific Land Corporation $TPL

Mad River Investors lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 203.1% during the fourth quarter, Holdings Channel reports. The firm owned 286,083 shares of the financial services provider’s stock after acquiring an additional 191,711 shares during the period. Texas Pacific Land makes up 37.4% of Mad River Investors’ holdings, making the stock its largest holding. Mad River Investors’ holdings in Texas Pacific Land were worth $82,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Texas Pacific Land during the third quarter valued at about $29,000. Silicon Valley Capital Partners bought a new position in shares of Texas Pacific Land during the third quarter valued at about $33,000. Triumph Capital Management bought a new position in shares of Texas Pacific Land during the third quarter valued at about $36,000. Versant Capital Management Inc lifted its position in shares of Texas Pacific Land by 75.0% during the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 18 shares in the last quarter. Finally, IMA Advisory Services Inc. lifted its position in shares of Texas Pacific Land by 77.8% during the third quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 21 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Insider Activity

In other Texas Pacific Land news, Director Donna E. Epps purchased 895 shares of the stock in a transaction dated Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $394.39 on Wednesday. The firm has a market cap of $27.20 billion, a price-to-earnings ratio of 54.03 and a beta of 0.66. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The firm’s 50-day simple moving average is $454.99 and its two-hundred day simple moving average is $385.72.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.03 by $0.04. The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. Analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TPL shares. Zacks Research raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. KeyCorp raised their price target on shares of 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 raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $639.00.

Texas Pacific Land 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.