Nicholas Hoffman & Company LLC. Grows Holdings in Texas Pacific Land Corporation $TPL

Nicholas Hoffman & Company LLC. lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,034 shares of the financial services provider’s stock after acquiring an additional 1,356 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Texas Pacific Land were worth $584,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TPL. MassMutual Private Wealth & Trust FSB increased its holdings in Texas Pacific Land by 363.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Quarry LP acquired a new position in Texas Pacific Land during the third quarter worth $29,000. CX Institutional purchased a new position in shares of Texas Pacific Land during the third quarter worth $30,000. Eagle Bay Advisors LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at $31,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land in the third quarter valued at $33,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TPL. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. KeyCorp lifted their target price on 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, Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.00.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the sale, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. The trade was a 42.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the transaction, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Price Performance

NYSE:TPL opened at $430.78 on Wednesday. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The firm has a market capitalization of $29.70 billion, a PE ratio of 61.75 and a beta of 0.66. The business’s fifty day moving average price is $480.17 and its 200 day moving average price is $379.66.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The company had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $204.00 million. As a group, equities analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. Texas Pacific Land’s payout ratio is presently 34.38%.

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.