Plan A Wealth LLC Raises Holdings in Texas Pacific Land Corporation $TPL

Plan A Wealth LLC increased its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,175 shares of the financial services provider’s stock after purchasing an additional 3,450 shares during the quarter. Texas Pacific Land makes up approximately 0.7% of Plan A Wealth LLC’s investment portfolio, making the stock its 15th largest position. Plan A Wealth LLC’s holdings in Texas Pacific Land were worth $1,486,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Texas Pacific Land by 39.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider’s stock worth $2,570,000 after purchasing an additional 545 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Texas Pacific Land by 74.1% during the first quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider’s stock worth $1,211,000 after purchasing an additional 389 shares in the last quarter. Woodline Partners LP increased its position in shares of Texas Pacific Land by 40.8% during the first quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider’s stock worth $2,109,000 after purchasing an additional 461 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Texas Pacific Land by 21.4% during the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 12 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Texas Pacific Land by 2,177.5% during the second quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider’s stock worth $4,812,000 after purchasing an additional 4,355 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. The trade was a 42.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Trading Down 1.2%

NYSE TPL opened at $397.60 on Friday. The stock has a market cap of $27.42 billion, a PE ratio of 54.47 and a beta of 0.66. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The stock has a fifty day simple moving average of $449.80 and a 200-day simple moving average of $386.95.

Texas Pacific Land (NYSE:TPL) last released 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 during the quarter, compared to analysts’ expectations of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. Research analysts predict that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio is presently 32.88%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. KeyCorp boosted their price target 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. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Weiss Ratings upgraded 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 Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $639.00.

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.