Marietta Wealth Management LLC Grows Stock Holdings in Texas Pacific Land Corporation $TPL

Marietta Wealth Management LLC grew its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 230.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,631 shares of the financial services provider’s stock after purchasing an additional 15,783 shares during the period. Marietta Wealth Management LLC’s holdings in Texas Pacific Land were worth $6,500,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Texas Pacific Land by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock valued at $2,409,938,000 after purchasing an additional 189,842 shares in the last quarter. State Street Corp raised its holdings in Texas Pacific Land by 1.9% in the third quarter. State Street Corp now owns 1,169,299 shares of the financial services provider’s stock valued at $1,091,704,000 after acquiring an additional 22,296 shares in the last quarter. Invesco Ltd. raised its holdings in Texas Pacific Land by 3.4% in the third quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider’s stock valued at $265,070,000 after acquiring an additional 9,389 shares in the last quarter. York GP Ltd. raised its holdings 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 in the last quarter. Finally, Pacific Heights Asset Management LLC raised its holdings in Texas Pacific Land by 12.1% in the third quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider’s stock valued at $172,723,000 after acquiring an additional 20,000 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPL has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, KeyCorp increased their target price 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Texas Pacific Land currently has a consensus rating of “Moderate Buy” and an average price target of $639.00.

Texas Pacific Land Trading Up 0.5%

NYSE:TPL opened at $439.99 on Thursday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The firm has a market cap of $30.33 billion, a price-to-earnings ratio of 63.07 and a beta of 0.76. The company has a 50-day moving average of $481.52 and a 200-day moving average of $372.90.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The company had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million. On average, research analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Increases Dividend

The firm also recently declared 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. 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 0.5%. The ex-dividend date was Monday, March 2nd. Texas Pacific Land’s dividend payout ratio is presently 34.38%.

Insiders Place Their Bets

In related news, Director Donna E. Epps purchased 895 shares of Texas Pacific Land stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost 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 of the company’s stock, valued at $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. The trade was a 42.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 6.90% of the company’s stock.

About Texas Pacific Land

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.