Texas Pacific Land Corporation $TPL Stock Position Lifted by Sienna Gestion

Sienna Gestion grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,761 shares of the financial services provider’s stock after buying an additional 11,174 shares during the quarter. Sienna Gestion’s holdings in Texas Pacific Land were worth $4,881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in Texas Pacific Land by 21.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after buying an additional 12 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Texas Pacific Land by 9.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock worth $160,000 after buying an additional 14 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in Texas Pacific Land by 2.5% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider’s stock worth $575,000 after buying an additional 15 shares during the last quarter. Bridgewater Advisors Inc. lifted its holdings in Texas Pacific Land by 7.0% during the 3rd quarter. Bridgewater Advisors Inc. now owns 229 shares of the financial services provider’s stock worth $232,000 after buying an additional 15 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its holdings in Texas Pacific Land by 1.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 969 shares of the financial services provider’s stock worth $905,000 after buying an additional 15 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TPL. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. 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. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Finally, Zacks Research cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Price Performance

TPL opened at $362.58 on Tuesday. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The stock has a market cap of $25.01 billion, a P/E ratio of 49.67 and a beta of 0.61. The stock’s 50 day moving average price is $408.49 and its 200 day moving average price is $395.83.

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

Texas Pacific Land Dividend Announcement

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

Insider Buying and Selling at Texas Pacific Land

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