Jefferies Financial Group Inc. Has $9.35 Million Position in Texas Pacific Land Corporation $TPL

Jefferies Financial Group Inc. increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 32.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,015 shares of the financial services provider’s stock after acquiring an additional 2,480 shares during the period. Jefferies Financial Group Inc.’s holdings in Texas Pacific Land were worth $9,350,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. CX Institutional bought a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $30,000. Versant Capital Management Inc grew its stake in shares of Texas Pacific Land by 75.0% in the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock valued at $39,000 after buying an additional 18 shares in the last quarter. IMA Advisory Services Inc. grew its stake in shares of Texas Pacific Land by 77.8% in the third quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock valued at $45,000 after buying an additional 21 shares in the last quarter. Rothschild Investment LLC acquired a new position in Texas Pacific Land during the third quarter worth $46,000. Finally, Assetmark Inc. increased its holdings in Texas Pacific Land by 33.3% during the second quarter. Assetmark Inc. now owns 52 shares of the financial services provider’s stock worth $55,000 after buying an additional 13 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TPL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Zacks Research raised Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. Wall Street Zen lowered Texas Pacific Land from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, KeyCorp raised their price objective 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. One equities 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. According to data from MarketBeat.com, Texas Pacific Land currently has an average rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Stock Up 2.7%

Shares of NYSE:TPL opened at $539.11 on Tuesday. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The company’s 50 day moving average price is $390.79 and its two-hundred day moving average price is $335.79. The firm has a market cap of $37.17 billion, a PE ratio of 77.27 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 the consensus estimate 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 company 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 disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s payout ratio is currently 34.38%.

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction that occurred 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 $1,072,899. This trade represents a 42.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna E. Epps purchased 895 shares of the company’s 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 purchase, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Company 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.