Crossmark Global Holdings Inc. Grows Position in Texas Pacific Land Corporation $TPL

Crossmark Global Holdings Inc. boosted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 409.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,377 shares of the financial services provider’s stock after acquiring an additional 2,714 shares during the period. Crossmark Global Holdings Inc.’s holdings in Texas Pacific Land were worth $970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in TPL. Ethic Inc. raised its holdings in shares of Texas Pacific Land by 204.9% in the 4th quarter. Ethic Inc. now owns 6,469 shares of the financial services provider’s stock valued at $1,858,000 after purchasing an additional 4,347 shares in the last quarter. Patten & Patten Inc. TN lifted its position in shares of Texas Pacific Land by 199.9% in the 4th quarter. Patten & Patten Inc. TN now owns 2,741 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 1,827 shares during the period. Costello Asset Management INC boosted its stake in shares of Texas Pacific Land by 345.0% during the fourth quarter. Costello Asset Management INC now owns 267 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 207 shares in the last quarter. Indie Asset Partners LLC increased its holdings in Texas Pacific Land by 191.2% during the fourth quarter. Indie Asset Partners LLC now owns 990 shares of the financial services provider’s stock valued at $284,000 after buying an additional 650 shares during the period. Finally, GRIMES & Co WEALTH MANAGEMENT LLC increased its holdings in Texas Pacific Land by 179.5% during the fourth quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 12,329 shares of the financial services provider’s stock valued at $3,541,000 after buying an additional 7,918 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction on 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 owned 2,133 shares of the company’s stock, valued at $1,072,899. This trade represents a 42.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the purchase, the director owned 2,921 shares in the company, valued at $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 6.90% of the stock is owned by company insiders.

Texas Pacific Land Stock Down 3.6%

NYSE TPL opened at $387.09 on Thursday. The firm has a market cap of $26.70 billion, a PE ratio of 53.03 and a beta of 0.66. The company has a 50 day moving average price of $466.04 and a 200 day moving average price of $383.46. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share 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. On average, equities research analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land’s dividend payout ratio is currently 32.88%.

Analyst Ratings Changes

A number of equities analysts recently commented on TPL shares. Zacks Research raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. KeyCorp lifted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded 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 issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $639.00.

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.