Wealthcare Advisory Partners LLC Takes Position in Texas Pacific Land Corporation $TPL

Wealthcare Advisory Partners LLC bought a new position in shares of Texas Pacific Land Corporation (NYSE:TPL) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,182 shares of the financial services provider’s stock, valued at approximately $339,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI raised its stake in Texas Pacific Land by 1.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 704 shares of the financial services provider’s stock worth $657,000 after acquiring an additional 12 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Texas Pacific Land by 21.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 12 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of Texas Pacific Land by 3.6% during the third quarter. PFG Investments LLC now owns 373 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 13 shares during the period. Truist Financial Corp boosted its holdings in shares of Texas Pacific Land by 0.6% in the third quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock valued at $2,050,000 after acquiring an additional 14 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in Texas Pacific Land by 9.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 14 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

TPL opened at $444.02 on Friday. The business has a 50 day moving average price of $462.08 and a 200 day moving average price of $360.96. The firm has a market cap of $30.61 billion, a P/E ratio of 63.64 and a beta of 0.76. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. 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. KeyCorp raised their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $639.00.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the company’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 sale, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Donna E. Epps purchased 895 shares of the stock in a transaction on Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the acquisition, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is currently owned by company insiders.

Texas Pacific Land 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.