Partners in Financial Planning Has $615,000 Stock Holdings in Texas Pacific Land Corporation $TPL

Partners in Financial Planning lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,142 shares of the financial services provider’s stock after acquiring an additional 1,428 shares during the quarter. Partners in Financial Planning’s holdings in Texas Pacific Land were worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bar Harbor Wealth Management lifted its stake in Texas Pacific Land by 195.1% in the fourth quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider’s stock worth $10,591,000 after purchasing an additional 24,379 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Texas Pacific Land by 212.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider’s stock worth $5,231,000 after purchasing an additional 12,390 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Texas Pacific Land by 187.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 37,764 shares of the financial services provider’s stock worth $11,095,000 after purchasing an additional 24,629 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Texas Pacific Land by 192.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider’s stock worth $38,410,000 after purchasing an additional 88,053 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Texas Pacific Land by 200.6% in the fourth quarter. Nordea Investment Management AB now owns 3,024 shares of the financial services provider’s stock worth $873,000 after purchasing an additional 2,018 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TPL has been the subject of several recent analyst reports. Zacks Research raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. KeyCorp upped their price objective 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. 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 analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $639.00.

Texas Pacific Land Price Performance

TPL stock opened at $433.94 on Friday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The company has a market cap of $29.92 billion, a P/E ratio of 62.20 and a beta of 0.67. The firm has a 50-day moving average of $481.54 and a 200 day moving average of $378.28.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The company had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million. On average, equities research analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s payout ratio is currently 34.38%.

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the transaction, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at $1,072,899. This represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Donna E. Epps purchased 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the purchase, the director owned 2,921 shares of the company’s stock, valued at $1,491,024.45. This represents 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 corporate 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.