Texas Pacific Land Corporation $TPL Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 187.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 37,764 shares of the financial services provider’s stock after acquiring an additional 24,629 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.05% of Texas Pacific Land worth $11,095,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TPL. Vanguard Group Inc. boosted its holdings in Texas Pacific Land by 7.9% in the third quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock valued at $2,409,938,000 after purchasing an additional 189,842 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in Texas Pacific Land during the second quarter worth approximately $92,167,000. Danske Bank A S purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $52,606,000. AQR Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 65.1% in the 3rd quarter. AQR Capital Management LLC now owns 90,589 shares of the financial services provider’s stock valued at $84,578,000 after buying an additional 35,716 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Texas Pacific Land by 100.4% in the 3rd quarter. Bank of America Corp DE now owns 62,723 shares of the financial services provider’s stock valued at $58,561,000 after buying an additional 31,417 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In other news, Director Donna E. Epps bought 895 shares of Texas Pacific Land stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the transaction, the chief accounting officer owned 2,133 shares in the company, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TPL. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, December 29th. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. KeyCorp boosted their target price on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Zacks Research upgraded Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Stock Down 1.5%

TPL opened at $522.15 on Friday. The business has a 50 day moving average price of $449.24 and a two-hundred day moving average price of $355.44. The company has a market cap of $36.00 billion, a PE ratio of 74.84 and a beta of 0.83. 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 announced its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.06. The company had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.60 per share. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. Texas Pacific Land’s dividend payout ratio is 34.38%.

Texas Pacific Land Company 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.