EverSource Wealth Advisors LLC Purchases 11,062 Shares of Texas Pacific Land Corporation $TPL

EverSource Wealth Advisors LLC grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 11,404.1% in the 4th quarter, Holdings Channel reports. The firm owned 11,159 shares of the financial services provider’s stock after acquiring an additional 11,062 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Texas Pacific Land were worth $3,205,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TPL. MassMutual Private Wealth & Trust FSB increased its stake in shares of Texas Pacific Land by 363.2% in 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 in the last quarter. IFP Advisors Inc increased its stake in shares of Texas Pacific Land by 185.3% in the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 63 shares in the last quarter. Quarry LP bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at $29,000. Eagle Bay Advisors LLC bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at $31,000. Finally, Silicon Valley Capital Partners bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at $33,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 1.5%

NYSE TPL opened at $402.89 on Friday. The company has a fifty day simple moving average of $447.36 and a 200 day simple moving average of $387.06. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The company has a market cap of $27.79 billion, a P/E ratio of 55.19 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $233.00 million. Sell-side analysts predict that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s payout ratio is currently 32.88%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TPL shares. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. KeyCorp lifted their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Pacific Land presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.00.

Insiders Place Their Bets

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land 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 transaction, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at $1,072,899. The trade was a 42.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donna E. Epps acquired 895 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were purchased 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 directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by insiders.

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.