Bradley Foster & Sargent Inc. CT Trims Holdings in Texas Pacific Land Corporation $TPL

Bradley Foster & Sargent Inc. CT decreased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 28.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,693 shares of the financial services provider’s stock after selling 1,481 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Texas Pacific Land were worth $1,752,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TPL. EverSource Wealth Advisors LLC grew its position in 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 valued at $72,000 after buying an additional 12 shares during the last quarter. Sei Investments Co. raised its position in Texas Pacific Land by 1.1% during the 3rd quarter. Sei Investments Co. now owns 1,909 shares of the financial services provider’s stock worth $1,782,000 after buying an additional 20 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Texas Pacific Land by 5.4% in the 3rd quarter. Larson Financial Group LLC now owns 410 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 21 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Texas Pacific Land by 1.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,916 shares of the financial services provider’s stock worth $1,789,000 after acquiring an additional 24 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Texas Pacific Land by 0.5% in the third quarter. Van ECK Associates Corp now owns 4,685 shares of the financial services provider’s stock valued at $4,374,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on TPL shares. Zacks Research cut shares of Texas Pacific Land from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Pacific Land presently has an average rating of “Reduce” and a consensus price target of $639.00.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $396.19 on Tuesday. The company has a market cap of $27.33 billion, a P/E ratio of 54.27 and a beta of 0.58. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The business has a fifty day moving average of $395.44 and a two-hundred day moving average of $418.11.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. The business had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. Sell-side analysts predict that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Dividend Announcement

The business also recently announced 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. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Texas Pacific Land’s dividend payout ratio is presently 32.88%.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 3,170 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $400.25, for a total value of $1,268,792.50. Following the completion of the transaction, the chief financial officer directly owned 12,870 shares of the company’s stock, valued at approximately $5,151,217.50. This trade represents a 19.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.90% of the company’s stock.

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.