Texas Pacific Land Corporation $TPL Stock Bought by Sapient Capital LLC

Sapient Capital LLC boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 3.3% during the third quarter, HoldingsChannel reports. The firm owned 49,522 shares of the financial services provider’s stock after buying an additional 1,577 shares during the period. Sapient Capital LLC’s holdings in Texas Pacific Land were worth $16,136,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Titleist Asset Management LLC grew its position in Texas Pacific Land by 178.3% in the third quarter. Titleist Asset Management LLC now owns 4,152 shares of the financial services provider’s stock worth $1,353,000 after acquiring an additional 2,660 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Texas Pacific Land during the 3rd quarter valued at about $297,000. Versant Capital Management Inc raised its holdings in shares of Texas Pacific Land by 83.5% during the 3rd quarter. Versant Capital Management Inc now owns 301 shares of the financial services provider’s stock valued at $98,000 after buying an additional 137 shares in the last quarter. QRG Capital Management Inc. lifted its position in Texas Pacific Land by 30.7% in the 2nd quarter. QRG Capital Management Inc. now owns 622 shares of the financial services provider’s stock worth $272,000 after buying an additional 146 shares during the last quarter. Finally, State Street Corp grew its position in Texas Pacific Land by 4.8% during the second quarter. State Street Corp now owns 3,964,748 shares of the financial services provider’s stock valued at $1,735,132,000 after acquiring an additional 179,791 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL traded up $12.52 during midday trading on Thursday, reaching $358.31. 323,340 shares of the stock traded hands, compared to its average volume of 442,285. The company has a fifty day moving average of $361.58 and a 200 day moving average of $395.91. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The stock has a market capitalization of $24.71 billion, a P/E ratio of 45.66 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. The business had revenue of $246.10 million for the quarter, compared to analyst estimates of $249.50 million. On average, analysts predict that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio is presently 30.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation (NYSE:TPL) is a land and resource management company focused on properties and mineral interests in Texas. The company traces its history to the Texas and Pacific Railway, for which the Texas Pacific Land Trust was established in 1888. It was later reorganized as a corporation in 2021.

Texas Pacific Land owns more than 800,000 acres, primarily in West Texas, including substantial holdings in the Permian Basin. Its operations include managing land, granting easements and rights-of-way, and leasing acreage for uses such as oil and gas development, pipelines, power transmission, and other infrastructure.