Texas Pacific Land Corporation $TPL Stake Boosted by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,375 shares of the financial services provider’s stock after purchasing an additional 2,250 shares during the quarter. Villere ST Denis J & Co. LLC’s holdings in Texas Pacific Land were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Texas Pacific Land by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock worth $2,409,938,000 after purchasing an additional 189,842 shares in the last quarter. State Street Corp increased its stake in Texas Pacific Land by 1.9% in the 3rd quarter. State Street Corp now owns 1,169,299 shares of the financial services provider’s stock worth $1,091,704,000 after purchasing an additional 22,296 shares in the last quarter. Invesco Ltd. increased its stake in Texas Pacific Land by 3.4% in the 3rd quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider’s stock worth $265,070,000 after purchasing an additional 9,389 shares in the last quarter. York GP Ltd. increased its stake in Texas Pacific Land by 195.1% in the 4th quarter. York GP Ltd. now owns 270,600 shares of the financial services provider’s stock worth $77,722,000 after purchasing an additional 178,900 shares in the last quarter. Finally, Pacific Heights Asset Management LLC increased its stake in Texas Pacific Land by 12.1% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider’s stock worth $172,723,000 after purchasing an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TPL shares. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research note on Friday, March 27th. KeyCorp lifted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $639.00.

Texas Pacific Land Price Performance

NYSE:TPL opened at $439.99 on Thursday. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The stock’s 50-day moving average is $481.52 and its two-hundred day moving average is $372.90. The stock has a market cap of $30.33 billion, a PE ratio of 63.07 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last released its 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. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The company had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $204.00 million. On average, equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 0.5%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 34.38%.

Insider Activity

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of the stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. The trade was a 44.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. This trade represents 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.

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.