Sienna Gestion Invests $4.76 Million in Texas Pacific Land Corporation $TPL

Sienna Gestion purchased a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,587 shares of the financial services provider’s stock, valued at approximately $4,756,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Citizens Financial Group Inc. RI increased its stake in shares of Texas Pacific Land by 1.7% in the third quarter. Citizens Financial Group Inc. RI now owns 704 shares of the financial services provider’s stock valued at $657,000 after buying an additional 12 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 12 shares in the last quarter. Assetmark Inc. raised its stake in shares of Texas Pacific Land by 33.3% in the second quarter. Assetmark Inc. now owns 52 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 13 shares during the last quarter. PFG Investments LLC lifted its position in shares of Texas Pacific Land by 3.6% during the third quarter. PFG Investments LLC now owns 373 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 13 shares in the last quarter. Finally, Truist Financial Corp grew its stake in shares of Texas Pacific Land by 0.6% during the third quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock valued at $2,050,000 after purchasing an additional 14 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

TPL has been the subject of a number of research reports. Wall Street Zen lowered shares of Texas Pacific Land from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research upgraded Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. 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 note on Monday, February 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Texas Pacific Land presently has an average rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $526.28 on Monday. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The firm has a market capitalization of $36.28 billion, a P/E ratio of 75.43 and a beta of 0.82. The company’s 50 day simple moving average is $385.90 and its 200 day simple moving average is $334.05.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. The firm had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.60 dividend. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, March 2nd. Texas Pacific Land’s dividend payout ratio is currently 34.38%.

Insider Transactions at Texas Pacific Land

In related news, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director owned 2,921 shares of the company’s stock, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the company’s 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 completion of the sale, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.90% of the company’s stock.

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.