WCG Wealth Advisors LLC Makes New $5.04 Million Investment in Texas Pacific Land Corporation $TPL

WCG Wealth Advisors LLC acquired a new stake in shares of Texas Pacific Land Corporation (NYSE:TPL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,560 shares of the financial services provider’s stock, valued at approximately $5,044,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in 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 buying an additional 69 shares during the period. IFP Advisors Inc increased its stake in Texas Pacific Land by 185.3% in the fourth 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 during the period. Quarry LP acquired a new position in Texas Pacific Land in the third quarter worth about $29,000. Eagle Bay Advisors LLC bought a new position in Texas Pacific Land during the fourth quarter worth about $31,000. Finally, Silicon Valley Capital Partners bought a new position in Texas Pacific Land during the third quarter worth about $33,000. 59.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TPL shares. Zacks Research cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. 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. Finally, KeyCorp increased their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Texas Pacific Land currently has a consensus rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $407.06 on Friday. The firm has a market capitalization of $28.07 billion, a price-to-earnings ratio of 55.76 and a beta of 0.61. The company’s 50 day simple moving average is $423.19 and its 200 day simple moving average is $391.93. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20.

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

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given 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 32.88%.

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.