GABELLI & Co INVESTMENT ADVISERS INC. Has $1.08 Million Position in Texas Pacific Land Corporation $TPL

GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,750 shares of the financial services provider’s stock after purchasing an additional 2,500 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Texas Pacific Land were worth $1,077,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Mission Wealth Management LP increased its holdings in Texas Pacific Land by 200.0% in the 4th quarter. Mission Wealth Management LP now owns 21,681 shares of the financial services provider’s stock worth $6,227,000 after purchasing an additional 14,453 shares in the last quarter. Pacific Heights Asset Management LLC increased its holdings in Texas Pacific Land by 235.1% in the 4th quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock worth $178,076,000 after purchasing an additional 435,000 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Texas Pacific Land by 257.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 13,653 shares of the financial services provider’s stock worth $3,921,000 after purchasing an additional 9,837 shares in the last quarter. Gabelli Funds LLC grew its position in shares of Texas Pacific Land by 200.0% in the 4th quarter. Gabelli Funds LLC now owns 8,700 shares of the financial services provider’s stock valued at $2,499,000 after buying an additional 5,800 shares during the last quarter. Finally, Sapient Capital LLC grew its position in shares of Texas Pacific Land by 166.3% in the 4th quarter. Sapient Capital LLC now owns 47,634 shares of the financial services provider’s stock valued at $13,916,000 after buying an additional 29,749 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of the business’s 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 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares in the company, valued at approximately $1,072,899. The trade was a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $385.55 on Monday. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The stock’s 50-day moving average is $460.34 and its 200 day moving average is $384.54. The firm has a market cap of $26.59 billion, a price-to-earnings ratio of 52.82 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate 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 company had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. On average, sell-side analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have commented on TPL. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. 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. Finally, Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently 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.