2,964 Texas Pacific Land Corporation $TPL Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its position in Texas Pacific Land Corporation (NYSE:TPL) by 80.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 721 shares of the financial services provider’s stock after selling 2,964 shares during the period. Kestra Private Wealth Services LLC’s holdings in Texas Pacific Land were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC purchased a new stake in shares of Texas Pacific Land during the 2nd quarter worth approximately $31,000. Global Retirement Partners LLC purchased a new position in shares of Texas Pacific Land in the 2nd quarter valued at $41,000. IFP Advisors Inc grew its position in shares of Texas Pacific Land by 40.8% in the 2nd quarter. IFP Advisors Inc now owns 138 shares of the financial services provider’s stock valued at $60,000 after buying an additional 40 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Texas Pacific Land during the 2nd quarter worth $67,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in Texas Pacific Land during the 1st quarter worth $83,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

NYSE:TPL opened at $272.72 on Monday. The firm’s fifty day moving average price is $345.85 and its 200 day moving average price is $399.98. Texas Pacific Land Corporation has a 1-year low of $265.31 and a 1-year high of $547.20. The firm has a market cap of $18.81 billion, a price-to-earnings ratio of 32.05 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.09. Texas Pacific Land had a net margin of 60.71% and a return on equity of 36.22%. The company had revenue of $273.40 million during the quarter, compared to the consensus estimate of $251.00 million. As a group, analysts expect that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 1st. Texas Pacific Land’s payout ratio is 28.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Zacks Research raised Texas Pacific Land from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $639.00.

About Texas Pacific Land

Texas Pacific Land Corporation is a land and resource management company focused on properties in West Texas, particularly the Permian Basin. Its roots date to the Texas and Pacific Railway, and the company’s land holdings were historically managed through the Texas Pacific Land Trust before it became a corporation.

The company earns revenue from oil and natural gas royalties and from activities tied to its surface and mineral interests. Its land and resource management operations include leasing land, granting easements and rights-of-way, and supporting energy development and other land uses.

Texas Pacific Land also provides water-related services to energy companies, including water sourcing, handling, treatment, recycling and disposal.