Texas Pacific Land Corporation $TPL Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in Texas Pacific Land Corporation (NYSE:TPL) by 18.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,243 shares of the financial services provider’s stock after buying an additional 2,084 shares during the period. EverSource Wealth Advisors LLC’s holdings in Texas Pacific Land were worth $6,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new stake in Texas Pacific Land during the 3rd quarter valued at approximately $29,000. Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land in the third quarter worth $33,000. Triumph Capital Management acquired a new stake in shares of Texas Pacific Land in the third quarter worth $36,000. MUFG Securities EMEA plc purchased a new position in shares of Texas Pacific Land during the second quarter worth $59,000. Finally, Allworth Financial LP lifted its position in Texas Pacific Land by 141.4% during the third quarter. Allworth Financial LP now owns 70 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $400.33, for a total value of $332,273.90. Following the sale, the chief financial officer directly owned 12,040 shares of the company’s stock, valued at approximately $4,819,973.20. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

TPL has been the topic of several recent research reports. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research lowered Texas Pacific Land from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $639.00.

Texas Pacific Land Stock Performance

TPL opened at $389.97 on Wednesday. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The company has a fifty day moving average of $395.35 and a two-hundred day moving average of $418.87. The stock has a market capitalization of $26.90 billion, a price-to-earnings ratio of 53.42 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last posted 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 business had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. On average, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.60 per share. The ex-dividend date was Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio is currently 32.88%.

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.