Healthcare of Ontario Pension Plan Trust Fund Purchases 1,356 Shares of Texas Pacific Land Corporation $TPL

Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 59.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,645 shares of the financial services provider’s stock after purchasing an additional 1,356 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Texas Pacific Land were worth $1,730,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TPL. Quarry LP acquired a new stake in Texas Pacific Land in the third quarter worth $29,000. Silicon Valley Capital Partners bought a new position in shares of Texas Pacific Land during the third quarter worth $33,000. Triumph Capital Management acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $36,000. MUFG Securities EMEA plc acquired a new position in shares of Texas Pacific Land in the 2nd quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of 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 buying an additional 12 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In related news, CFO Chris Steddum sold 3,170 shares of Texas Pacific Land stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $400.25, for a total value of $1,268,792.50. Following the sale, the chief financial officer owned 12,870 shares of the company’s stock, valued at approximately $5,151,217.50. The trade was a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is owned by insiders.

Texas Pacific Land Trading Up 2.3%

Shares of TPL opened at $403.23 on Friday. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The firm has a fifty day simple moving average of $395.06 and a 200 day simple moving average of $419.95. The stock has a market capitalization of $27.81 billion, a price-to-earnings ratio of 55.24 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) 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 firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. As a group, research analysts predict that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.60 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.88%.

Analysts Set New Price Targets

TPL has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Texas Pacific Land in a research note on Wednesday. Zacks Research raised Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.