Nelson Capital Management LLC Decreases Holdings in Texas Pacific Land Corporation $TPL

Nelson Capital Management LLC trimmed its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 35.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,503 shares of the financial services provider’s stock after selling 1,400 shares during the quarter. Nelson Capital Management LLC’s holdings in Texas Pacific Land were worth $1,188,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Quarry LP bought a new position in shares of Texas Pacific Land during the 3rd quarter valued at $29,000. Silicon Valley Capital Partners bought a new stake in Texas Pacific Land in the third quarter worth $33,000. Triumph Capital Management bought a new stake in Texas Pacific Land in the third quarter worth $36,000. MUFG Securities EMEA plc purchased a new stake in Texas Pacific Land during the second quarter valued at about $59,000. Finally, EverSource Wealth Advisors LLC boosted its position in 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 valued at $72,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $400.33, for a total transaction of $332,273.90. Following the transaction, the chief financial officer directly owned 12,040 shares of the company’s stock, valued at approximately $4,819,973.20. The trade was a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Performance

NYSE TPL opened at $415.88 on Monday. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The stock has a 50 day simple moving average of $392.52 and a two-hundred day simple moving average of $412.88. The stock has a market cap of $28.68 billion, a P/E ratio of 56.97 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data 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. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. Sell-side analysts predict that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.60 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 0.6%. Texas Pacific Land’s payout ratio is 32.88%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research cut Texas Pacific Land from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus 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.