Gamco Investors INC. ET AL Acquires 9,837 Shares of Texas Pacific Land Corporation $TPL

Gamco Investors INC. ET AL increased its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 257.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,653 shares of the financial services provider’s stock after buying an additional 9,837 shares during the period. Gamco Investors INC. ET AL’s holdings in Texas Pacific Land were worth $3,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings in Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 69 shares during the last quarter. Quarry LP purchased a new stake in Texas Pacific Land in the third quarter valued at $29,000. Eagle Bay Advisors LLC purchased a new stake in Texas Pacific Land in the fourth quarter valued at $31,000. Silicon Valley Capital Partners purchased a new stake in Texas Pacific Land in the third quarter valued at $33,000. Finally, Triumph Capital Management purchased a new stake in Texas Pacific Land in the third quarter valued at $36,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, the director owned 2,921 shares of the company’s stock, valued at $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. 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 on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. This represents a 42.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Up 2.0%

Texas Pacific Land stock opened at $402.34 on Thursday. The firm has a market cap of $27.75 billion, a PE ratio of 55.12 and a beta of 0.66. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The company’s 50 day moving average is $452.26 and its two-hundred day moving average is $386.37.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates 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 Dividend Announcement

The company 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.88%.

Analyst Ratings Changes

A number of research analysts have weighed in on TPL shares. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. KeyCorp upped 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. Finally, Wall Street Zen raised 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 assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $639.00.

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.