Stratos Wealth Partners LTD. Acquires 12,390 Shares of Texas Pacific Land Corporation $TPL

Stratos Wealth Partners LTD. lifted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 212.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,211 shares of the financial services provider’s stock after purchasing an additional 12,390 shares during the period. Stratos Wealth Partners LTD.’s holdings in Texas Pacific Land were worth $5,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPL. Wealth Enhancement Advisory Services LLC grew its position in shares of Texas Pacific Land by 187.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 37,764 shares of the financial services provider’s stock valued at $11,095,000 after acquiring an additional 24,629 shares during the period. Nordea Investment Management AB raised its holdings in shares of Texas Pacific Land by 200.6% in the 4th quarter. Nordea Investment Management AB now owns 3,024 shares of the financial services provider’s stock worth $873,000 after purchasing an additional 2,018 shares during the period. Dimensional Fund Advisors LP lifted its stake in Texas Pacific Land by 13.1% in the third 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. Corsicana & Co. lifted its stake in Texas Pacific Land by 200.0% in the fourth quarter. Corsicana & Co. now owns 5,070 shares of the financial services provider’s stock valued at $1,456,000 after purchasing an additional 3,380 shares during the last quarter. Finally, MOR Wealth Management LLC bought a new position in Texas Pacific Land during the fourth quarter valued at $3,859,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TPL has been the subject of a number of recent research reports. KeyCorp raised their target price 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 reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Friday, March 27th. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Stock Down 0.0%

TPL stock opened at $444.02 on Monday. The stock has a 50-day simple moving average of $464.02 and a two-hundred day simple moving average of $362.65. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The firm has a market capitalization of $30.61 billion, a PE ratio of 63.64 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. The company had revenue of $211.60 million during the quarter, compared to analyst estimates 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 company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.5%. 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 payout ratio is 34.38%.

Insiders Place Their Bets

In other news, Director Donna E. Epps purchased 895 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction on Tuesday, February 24th. The stock was 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 trade represents a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is owned by 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.