Jefferies Financial Group Inc. Has $7.26 Million Holdings in Texas Pacific Land Corporation $TPL

Jefferies Financial Group Inc. grew its stake in Texas Pacific Land Corporation (NYSE:TPL) by 152.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,266 shares of the financial services provider’s stock after buying an additional 15,251 shares during the period. Jefferies Financial Group Inc.’s holdings in Texas Pacific Land were worth $7,257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Texas Pacific Land by 192.8% in the fourth quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock worth $2,170,512,000 after buying an additional 4,975,738 shares during the last quarter. State Street Corp lifted its position in shares of Texas Pacific Land by 1.9% in the third quarter. State Street Corp now owns 1,169,299 shares of the financial services provider’s stock worth $1,091,704,000 after buying an additional 22,296 shares during the last quarter. Pacific Heights Asset Management LLC lifted its position in shares of Texas Pacific Land by 235.1% in the fourth quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock worth $178,076,000 after buying an additional 435,000 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its position in shares of Texas Pacific Land by 209.7% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock worth $136,459,000 after buying an additional 321,683 shares during the last quarter. Finally, UBS Group AG lifted its position in Texas Pacific Land by 232.4% during the 4th quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock worth $130,982,000 after acquiring an additional 318,842 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling

In other news, Director Donna E. Epps purchased 895 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, with a total value of $456,852.75. Following the acquisition, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 6.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TPL has been the subject of a number of research analyst reports. Zacks Research raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. KeyCorp boosted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $639.00.

Texas Pacific Land Stock Performance

NYSE TPL opened at $402.89 on Tuesday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The stock has a market capitalization of $27.79 billion, a PE ratio of 55.19 and a beta of 0.66. The stock has a 50-day simple moving average of $444.81 and a 200 day simple moving average of $388.30.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $233.00 million. As a group, equities research analysts forecast that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

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

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.