Stevens Capital Management LP Purchases Shares of 1,322 Texas Pacific Land Corporation $TPL

Stevens Capital Management LP purchased a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,322 shares of the financial services provider’s stock, valued at approximately $380,000.

Other large investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in Texas Pacific Land during the third quarter valued at approximately $29,000. CX Institutional purchased a new position in Texas Pacific Land during the third quarter valued at approximately $30,000. Silicon Valley Capital Partners bought a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $33,000. Triumph Capital Management bought a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $36,000. Finally, Versant Capital Management Inc raised 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 buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL opened at $420.41 on Thursday. The company’s fifty day moving average is $478.50 and its 200 day moving average is $380.43. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The stock has a market capitalization of $28.98 billion, a PE ratio of 60.26 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. As a group, research analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land’s payout ratio is currently 34.38%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps purchased 895 shares of Texas Pacific Land 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 completion of the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the business’s 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 completion of the sale, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. This 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.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TPL. 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. KeyCorp lifted their price objective 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. Finally, Weiss Ratings upgraded 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 given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $639.00.

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.