Seneschal Advisors LLC Boosts Stock Holdings in Texas Pacific Land Corporation $TPL

Seneschal Advisors LLC grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 189.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,479 shares of the financial services provider’s stock after buying an additional 4,896 shares during the period. Texas Pacific Land comprises approximately 1.6% of Seneschal Advisors LLC’s portfolio, making the stock its 13th biggest holding. Seneschal Advisors LLC’s holdings in Texas Pacific Land were worth $2,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Bar Harbor Wealth Management grew its stake in Texas Pacific Land by 195.1% in the 4th quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider’s stock valued at $10,591,000 after acquiring an additional 24,379 shares during the period. Stratos Wealth Partners LTD. grew its stake in Texas Pacific Land by 212.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider’s stock valued at $5,231,000 after acquiring an additional 12,390 shares during the period. Daiwa Securities Group Inc. grew its stake in Texas Pacific Land by 200.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,450 shares of the financial services provider’s stock valued at $2,714,000 after acquiring an additional 6,307 shares during the period. Schwartz Investment Counsel Inc. grew its stake in Texas Pacific Land by 209.7% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock valued at $136,459,000 after acquiring an additional 321,683 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Texas Pacific Land by 192.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider’s stock valued at $38,410,000 after acquiring an additional 88,053 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 4.3%

Shares of TPL opened at $362.58 on Tuesday. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The firm’s fifty day moving average is $408.49 and its two-hundred day moving average is $395.83. The stock has a market cap of $25.01 billion, a PE ratio of 49.67 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. As a group, research analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Texas Pacific Land’s payout ratio is 32.88%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TPL. Zacks Research cut shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. 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 note on Monday, February 23rd. 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. Finally, 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. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $639.00.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of Texas Pacific Land stock in a transaction on Monday, June 8th. The shares were sold at an average price of $400.33, for a total transaction of $332,273.90. Following the sale, the chief financial officer owned 12,040 shares of the company’s stock, valued at $4,819,973.20. The trade was a 6.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by company insiders.

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.