Texas Pacific Land Corporation $TPL Shares Acquired by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 199.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,869 shares of the financial services provider’s stock after purchasing an additional 9,234 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Texas Pacific Land were worth $3,983,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its position in shares of Texas Pacific Land by 363.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 69 shares during the last quarter. Quarry LP bought a new stake in shares of Texas Pacific Land during the 3rd quarter worth $29,000. CX Institutional acquired a new position in shares of Texas Pacific Land in the 3rd quarter worth $30,000. Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land during the third quarter worth $33,000. Finally, Triumph Capital Management purchased a new position in Texas Pacific Land during the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $438.96 on Thursday. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The business has a 50-day moving average of $460.12 and a two-hundred day moving average of $360.38. The stock has a market capitalization of $30.26 billion, a P/E ratio of 62.92 and a beta of 0.76.

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

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.5%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. Texas Pacific Land’s dividend payout ratio is 34.38%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TPL. Zacks Research upgraded shares of Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, KeyCorp boosted 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. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $639.00.

Insider Activity at Texas Pacific Land

In other news, Director Donna E. Epps acquired 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, with a total value of $456,852.75. Following the acquisition, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction on 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. The trade was a 42.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 6.90% of the company’s stock.

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.