Teachers Retirement System of The State of Kentucky Increases Stock Holdings in Texas Pacific Land Corporation $TPL

Teachers Retirement System of The State of Kentucky lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,365 shares of the financial services provider’s stock after purchasing an additional 2,910 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Texas Pacific Land were worth $1,253,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Texas Pacific Land by 192.8% in the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock worth $2,170,512,000 after purchasing an additional 4,975,738 shares during the period. Compass Ion Advisors LLC boosted its holdings in shares of Texas Pacific Land by 203.7% in the 4th quarter. Compass Ion Advisors LLC now owns 26,420 shares of the financial services provider’s stock worth $7,588,000 after purchasing an additional 17,721 shares during the period. NBC Securities Inc. boosted its holdings in shares of Texas Pacific Land by 200.6% in the 4th quarter. NBC Securities Inc. now owns 1,560 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 1,041 shares during the period. Arizona State Retirement System boosted its holdings in shares of Texas Pacific Land by 181.4% in the 4th quarter. Arizona State Retirement System now owns 16,122 shares of the financial services provider’s stock worth $4,631,000 after purchasing an additional 10,392 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of Texas Pacific Land by 200.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 1,470 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 980 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was 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 of the company’s stock, valued at $1,072,899. This represents a 42.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Donna E. Epps bought 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Trading Up 1.8%

Shares of TPL stock opened at $438.83 on Thursday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The stock has a market capitalization of $30.25 billion, a price-to-earnings ratio of 62.90 and a beta of 0.76. The stock has a fifty day simple moving average of $482.39 and a two-hundred day simple moving average of $377.26.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share 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 business had revenue of $211.60 million during the quarter, compared to analysts’ expectations of $204.00 million. Research analysts predict that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

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

Wall Street Analysts Forecast Growth

TPL has been the subject of a number of recent research reports. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. KeyCorp lifted their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Texas Pacific Land currently has a consensus rating of “Moderate Buy” 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.