Fort Sheridan Advisors LLC Grows Stock Position in Texas Pacific Land Corporation $TPL

Fort Sheridan Advisors LLC increased its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,203 shares of the financial services provider’s stock after buying an additional 2,802 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in Texas Pacific Land were worth $1,207,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TPL. EverSource Wealth Advisors LLC increased its holdings in Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 12 shares during the last quarter. Truist Financial Corp increased its holdings in Texas Pacific Land by 0.6% in the 3rd quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock valued at $2,050,000 after purchasing an additional 14 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Texas Pacific Land by 9.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 14 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in Texas Pacific Land by 2.5% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 15 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its holdings in Texas Pacific Land by 7.0% in the 3rd quarter. Bridgewater Advisors Inc. now owns 229 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 2.2%

NYSE:TPL opened at $392.54 on Friday. The company has a fifty day simple moving average of $434.42 and a two-hundred day simple moving average of $389.99. The company has a market cap of $27.07 billion, a price-to-earnings ratio of 53.77 and a beta of 0.66. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.03 by $0.04. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. On average, analysts expect 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 is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. Texas Pacific Land’s payout ratio is presently 32.88%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. 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. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Finally, KeyCorp boosted their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $639.00.

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.