TABR Capital Management LLC Invests $1.34 Million in Texas Pacific Land Corporation $TPL

TABR Capital Management LLC purchased a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,653 shares of the financial services provider’s stock, valued at approximately $1,336,000.

Several other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in Texas Pacific Land by 363.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 69 shares during the last quarter. Quarry LP purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $29,000. CX Institutional bought a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $30,000. Eagle Bay Advisors LLC purchased a new position in shares of Texas Pacific Land in the fourth quarter valued at $31,000. Finally, Silicon Valley Capital Partners purchased a new position in shares of Texas Pacific Land in the third quarter valued at $33,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock opened at $438.78 on Wednesday. The stock has a market cap of $30.25 billion, a price-to-earnings ratio of 62.89 and a beta of 0.76. The stock has a 50 day moving average price of $481.00 and a 200-day moving average price of $372.43. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share 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 return on equity of 36.18% and a net margin of 60.31%. Sell-side analysts predict that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Increases Dividend

The company 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. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. Texas Pacific Land’s payout ratio is currently 34.38%.

Insider Activity

In other news, Director Donna E. Epps purchased 895 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, the director owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction dated 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 directly owned 2,133 shares in the company, valued at $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TPL. Zacks Research raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. KeyCorp lifted their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.