TMB Capital Partners LLC Takes $7.34 Million Position in Texas Pacific Land Corporation $TPL

TMB Capital Partners LLC bought a new stake in Texas Pacific Land Corporation (NYSE:TPL) in the fourth quarter, HoldingsChannel.com reports. The fund bought 25,560 shares of the financial services provider’s stock, valued at approximately $7,341,000. Texas Pacific Land accounts for approximately 2.5% of TMB Capital Partners LLC’s investment portfolio, making the stock its 8th biggest position.

Other large investors also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Texas Pacific Land by 201.4% in the fourth quarter. Invesco Ltd. now owns 855,816 shares of the financial services provider’s stock worth $245,807,000 after purchasing an additional 571,906 shares in the last quarter. Corient Private Wealth LLC raised its position in Texas Pacific Land by 131.6% during the 4th quarter. Corient Private Wealth LLC now owns 17,882 shares of the financial services provider’s stock valued at $5,137,000 after purchasing an additional 10,161 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Texas Pacific Land in the 4th quarter worth $1,206,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Texas Pacific Land by 184.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,392 shares of the financial services provider’s stock worth $3,846,000 after buying an additional 8,686 shares during the period. Finally, Vident Advisory LLC grew its position in shares of Texas Pacific Land by 121.9% during the 4th quarter. Vident Advisory LLC now owns 4,038 shares of the financial services provider’s stock worth $1,160,000 after buying an additional 2,218 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Chris Steddum sold 3,170 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $400.25, for a total transaction of $1,268,792.50. Following the transaction, the chief financial officer directly owned 12,870 shares of the company’s stock, valued at $5,151,217.50. This represents a 19.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Up 0.2%

Shares of TPL opened at $355.05 on Friday. The company has a market cap of $24.49 billion, a price-to-earnings ratio of 48.64 and a beta of 0.61. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The company has a 50 day moving average of $403.01 and a two-hundred day moving average of $397.26.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.04. The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. On average, sell-side analysts expect that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 1st. Texas Pacific Land’s payout ratio is 32.88%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. KeyCorp upped 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 raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Zacks Research downgraded shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Texas Pacific Land 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 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.