Daymark Wealth Partners LLC Has $1.85 Million Stock Holdings in Texas Pacific Land Corporation $TPL

Daymark Wealth Partners LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL) by 200.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,456 shares of the financial services provider’s stock after buying an additional 4,309 shares during the period. Daymark Wealth Partners LLC’s holdings in Texas Pacific Land were worth $1,854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. raised its holdings in Texas Pacific Land by 8.8% during the 2nd quarter. Prudential Financial Inc. now owns 10,966 shares of the financial services provider’s stock worth $11,584,000 after purchasing an additional 884 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Texas Pacific Land by 13.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 147,557 shares of the financial services provider’s stock valued at $137,747,000 after purchasing an additional 17,107 shares during the last quarter. Westerkirk Capital Inc. acquired a new stake in shares of Texas Pacific Land during the 2nd quarter worth approximately $2,229,000. Corsicana & Co. grew its position in shares of Texas Pacific Land by 200.0% during the 4th quarter. Corsicana & Co. now owns 5,070 shares of the financial services provider’s stock worth $1,456,000 after buying an additional 3,380 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Texas Pacific Land by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 184,205 shares of the financial services provider’s stock worth $194,592,000 after buying an additional 720 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TPL shares. Zacks Research upgraded shares of Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. KeyCorp upped their target price 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. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $531.23 on Thursday. The stock has a market cap of $36.62 billion, a PE ratio of 76.14 and a beta of 0.83. The stock has a 50-day moving average of $445.41 and a 200-day moving average of $354.27. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.60 per share. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. Texas Pacific Land’s payout ratio is 34.38%.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. This 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 link. Also, Director Donna E. Epps acquired 895 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, with a total value of $456,852.75. Following the transaction, the director owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 6.90% of the stock is owned by 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.