Texas Pacific Land Corporation $TPL Stock Holdings Lifted by Austin Wealth Management LLC

Austin Wealth Management LLC lifted its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,967 shares of the financial services provider’s stock after buying an additional 1,978 shares during the quarter. Austin Wealth Management LLC’s holdings in Texas Pacific Land were worth $899,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Citizens Financial Group Inc. RI lifted its position in shares of Texas Pacific Land by 1.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 704 shares of the financial services provider’s stock worth $657,000 after buying an additional 12 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Texas Pacific Land by 21.4% in 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. PFG Investments LLC lifted its position in shares of Texas Pacific Land by 3.6% in the 3rd quarter. PFG Investments LLC now owns 373 shares of the financial services provider’s stock worth $348,000 after buying an additional 13 shares during the last quarter. Truist Financial Corp lifted its position in shares of Texas Pacific Land by 0.6% in the 3rd quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock worth $2,050,000 after buying an additional 14 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Texas Pacific Land by 9.1% in 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. 59.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TPL has been the topic of several recent research reports. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Finally, KeyCorp lifted 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 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Stock Up 1.3%

Shares of NYSE:TPL opened at $417.48 on Thursday. The company has a market cap of $28.78 billion, a PE ratio of 59.84 and a beta of 0.76. The company’s 50-day moving average price is $476.29 and its 200 day moving average price is $368.78. 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, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.06. The firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

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

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the transaction, the chief accounting officer owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Donna E. Epps bought 895 shares of the stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director owned 2,921 shares in the company, valued at $1,491,024.45. This trade represents a 44.18% increase in their position. The SEC filing for this purchase provides additional information. 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.