Cross Staff Investments Inc Has $738,000 Stock Position in Texas Pacific Land Corporation $TPL

Cross Staff Investments Inc increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 194.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,570 shares of the financial services provider’s stock after buying an additional 1,698 shares during the period. Cross Staff Investments Inc’s holdings in Texas Pacific Land were worth $738,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Bar Harbor Wealth Management raised its holdings in shares of Texas Pacific Land by 195.1% during the fourth quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider’s stock valued at $10,591,000 after purchasing an additional 24,379 shares during the period. Stratos Wealth Partners LTD. raised its stake in Texas Pacific Land by 212.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider’s stock worth $5,231,000 after buying an additional 12,390 shares during the period. Daiwa Securities Group Inc. raised its stake in Texas Pacific Land by 200.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,450 shares of the financial services provider’s stock worth $2,714,000 after buying an additional 6,307 shares during the period. Schwartz Investment Counsel Inc. boosted its holdings in Texas Pacific Land by 209.7% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock worth $136,459,000 after acquiring an additional 321,683 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in Texas Pacific Land by 184.1% in the fourth quarter. New York State Teachers Retirement System now owns 38,841 shares of the financial services provider’s stock valued at $11,156,000 after acquiring an additional 25,170 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TPL shares. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. KeyCorp raised 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 note on Monday, February 23rd. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Zacks Research lowered shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $639.00.

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of Texas Pacific Land stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $400.33, for a total transaction of $332,273.90. Following the transaction, the chief financial officer owned 12,040 shares of the company’s stock, valued at $4,819,973.20. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.90% of the company’s stock.

Texas Pacific Land Price Performance

TPL opened at $355.05 on Friday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The company has a market capitalization of $24.49 billion, a price-to-earnings ratio of 48.64 and a beta of 0.61. The firm’s fifty day moving average price is $403.01 and its two-hundred day moving average price is $397.26.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $233.00 million. As a group, equities analysts anticipate that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.60 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.88%.

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.