Texas Pacific Land Corporation $TPL Shares Bought by EagleClaw Capital Managment LLC

EagleClaw Capital Managment LLC grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,948 shares of the financial services provider’s stock after acquiring an additional 1,821 shares during the period. Texas Pacific Land accounts for 6.4% of EagleClaw Capital Managment LLC’s investment portfolio, making the stock its biggest holding. EagleClaw Capital Managment LLC owned 0.21% of Texas Pacific Land worth $45,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. CX Institutional acquired a new stake in shares of Texas Pacific Land during the 3rd quarter valued at about $30,000. Versant Capital Management Inc raised its position in Texas Pacific Land by 75.0% during the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 18 shares in the last quarter. IMA Advisory Services Inc. raised its position in Texas Pacific Land by 77.8% during the third quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 21 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Texas Pacific Land in the third quarter valued at approximately $46,000. Finally, SBI Securities Co. Ltd. grew its position in Texas Pacific Land by 5,100.0% in the second quarter. SBI Securities Co. Ltd. now owns 52 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 51 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 0.6%

Shares of Texas Pacific Land stock opened at $532.36 on Friday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The company’s fifty day simple moving average is $409.64 and its 200-day simple moving average is $341.84. The company has a market cap of $36.70 billion, a price-to-earnings ratio of 76.31 and a beta of 0.83.

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, beating the consensus estimate of $1.73 by $0.06. The firm had revenue of $211.60 million during the quarter, compared to analysts’ expectations 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s payout ratio is 34.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp raised their target price on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, December 29th. Zacks Research raised Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. Finally, Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Texas Pacific Land presently has a consensus rating of “Hold” and a consensus target price of $639.00.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction on 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 transaction, the chief accounting officer owned 2,133 shares in the company, valued at approximately $1,072,899. This represents a 42.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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, with a total value of $456,852.75. Following the completion of the acquisition, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. This trade represents a 44.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 6.90% of the company’s stock.

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.