JGP Wealth Management LLC Invests $2.90 Million in Texas Pacific Land Corporation $TPL

JGP Wealth Management LLC bought a new stake in Texas Pacific Land Corporation (NYSE:TPL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,098 shares of the financial services provider’s stock, valued at approximately $2,900,000.

A number of other large investors also recently made changes to their positions in TPL. MassMutual Private Wealth & Trust FSB increased its stake 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 buying an additional 69 shares during the last quarter. Quarry LP bought a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $29,000. CX Institutional purchased a new position in shares of Texas Pacific Land in the 3rd quarter worth approximately $30,000. Silicon Valley Capital Partners bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $33,000. Finally, Triumph Capital Management bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $36,000. 59.94% of the stock is owned by institutional investors.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the completion of the transaction, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Donna E. Epps acquired 895 shares of the stock in a transaction dated Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. This represents a 44.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Trading Up 1.6%

Texas Pacific Land stock opened at $527.70 on Tuesday. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The business’s 50 day simple moving average is $437.06 and its 200 day simple moving average is $351.35. The company has a market cap of $36.38 billion, a price-to-earnings ratio of 75.64 and a beta of 0.82.

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

Texas Pacific Land Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, December 29th. KeyCorp raised 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, Zacks Research upgraded Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. One equities 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 stock. 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 Company 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.