Texas Pacific Land Corporation $TPL Shares Bought by Prospera Financial Services Inc

Prospera Financial Services Inc boosted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 207.0% in the 4th quarter, HoldingsChannel reports. The fund owned 14,549 shares of the financial services provider’s stock after acquiring an additional 9,810 shares during the period. Prospera Financial Services Inc’s holdings in Texas Pacific Land were worth $4,180,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its holdings in shares of Texas Pacific Land by 230.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 833 shares of the financial services provider’s stock valued at $239,000 after buying an additional 581 shares in the last quarter. Jefferies Financial Group Inc. boosted its holdings in shares of Texas Pacific Land by 152.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 25,266 shares of the financial services provider’s stock valued at $7,257,000 after buying an additional 15,251 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Texas Pacific Land by 11,404.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 11,159 shares of the financial services provider’s stock valued at $3,205,000 after buying an additional 11,062 shares in the last quarter. Nixon Peabody Trust Co. boosted its holdings in shares of Texas Pacific Land by 200.0% in the 4th quarter. Nixon Peabody Trust Co. now owns 1,200 shares of the financial services provider’s stock valued at $345,000 after buying an additional 800 shares in the last quarter. Finally, Insight Inv LLC acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at $543,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insiders Place Their Bets

In other Texas Pacific Land news, Director Donna E. Epps purchased 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TPL shares. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. 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 report on Monday, February 23rd. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Finally, Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $639.00.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $402.89 on Tuesday. The stock has a market cap of $27.79 billion, a P/E ratio of 55.19 and a beta of 0.66. The firm has a fifty day moving average price of $444.81 and a 200 day moving average price of $388.30. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20.

Texas Pacific Land (NYSE:TPL) last issued 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 firm had revenue of $236.80 million during 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 expect that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm also recently declared 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 is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio is currently 32.88%.

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.