Texas Pacific Land Corporation $TPL Stock Position Raised by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. boosted its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 199.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,869 shares of the financial services provider’s stock after acquiring an additional 9,234 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Texas Pacific Land were worth $3,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised 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 worth $25,000 after purchasing an additional 69 shares during the period. Quarry LP acquired a new position in Texas Pacific Land during the 3rd quarter valued at approximately $29,000. CX Institutional acquired a new position in Texas Pacific Land during the 3rd quarter valued at approximately $30,000. Silicon Valley Capital Partners bought a new position in Texas Pacific Land during the 3rd quarter worth $33,000. Finally, Triumph Capital Management bought a new position in Texas Pacific Land during the 3rd quarter worth $36,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TPL. Zacks Research upgraded Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Friday, March 27th. KeyCorp increased their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, 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. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Price Performance

TPL opened at $438.96 on Thursday. The stock’s 50 day moving average price is $460.12 and its 200 day moving average price is $360.38. The stock has a market cap of $30.26 billion, a P/E ratio of 62.92 and a beta of 0.76. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping 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 company had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million.

Texas Pacific Land Increases Dividend

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

Insider Transactions at Texas Pacific Land

In related news, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. This represents a 44.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. The trade was a 42.98% decrease in their position. The SEC filing for this sale provides additional information. Corporate 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.