Texas Pacific Land Corporation $TPL is One Charles Private Wealth Services LLC’s 3rd Largest Position

One Charles Private Wealth Services LLC boosted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 195.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 76,205 shares of the financial services provider’s stock after acquiring an additional 50,418 shares during the quarter. Texas Pacific Land makes up about 5.7% of One Charles Private Wealth Services LLC’s portfolio, making the stock its 3rd biggest position. One Charles Private Wealth Services LLC’s holdings in Texas Pacific Land were worth $21,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Plan A Wealth LLC grew its holdings in Texas Pacific Land by 200.0% during the 4th quarter. Plan A Wealth LLC now owns 5,175 shares of the financial services provider’s stock valued at $1,486,000 after purchasing an additional 3,450 shares during the last quarter. Griffin Asset Management Inc. bought a new position in Texas Pacific Land during the 4th quarter valued at about $554,000. Motco grew its holdings in Texas Pacific Land by 195.5% during the 4th quarter. Motco now owns 3,744 shares of the financial services provider’s stock valued at $1,075,000 after purchasing an additional 2,477 shares during the last quarter. IFP Advisors Inc grew its holdings in Texas Pacific Land by 185.3% during the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 63 shares during the last quarter. Finally, Mad River Investors grew its holdings in Texas Pacific Land by 203.1% during the 4th quarter. Mad River Investors now owns 286,083 shares of the financial services provider’s stock valued at $82,169,000 after purchasing an additional 191,711 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the sale, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. This represents a 42.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donna E. Epps bought 895 shares of the stock in a transaction on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, with a total value 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. This trade represents a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TPL has been the topic of several analyst reports. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. KeyCorp boosted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $639.00.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $397.60 on Friday. The company has a market capitalization of $27.42 billion, a P/E ratio of 54.47 and a beta of 0.66. The company’s 50-day simple moving average is $449.80 and its two-hundred day simple moving average is $386.95. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. On average, research analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

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

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.