Fortune Financial Advisors LLC Boosts Stock Holdings in Texas Pacific Land Corporation $TPL

Fortune Financial Advisors LLC raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 221.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,893 shares of the financial services provider’s stock after purchasing an additional 1,993 shares during the period. Fortune Financial Advisors LLC’s holdings in Texas Pacific Land were worth $831,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TPL. MassMutual Private Wealth & Trust FSB increased its position in Texas Pacific Land by 363.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 69 shares during the period. Quarry LP purchased a new position in Texas Pacific Land during the 3rd quarter valued at about $29,000. CX Institutional purchased a new position in Texas Pacific Land during the 3rd quarter valued at about $30,000. Silicon Valley Capital Partners purchased a new position in Texas Pacific Land during the 3rd quarter valued at about $33,000. Finally, Triumph Capital Management purchased a new position in Texas Pacific Land during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TPL. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Finally, KeyCorp lifted their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Stock Up 8.5%

Shares of Texas Pacific Land stock opened at $410.07 on Friday. The firm’s 50 day moving average price is $471.78 and its 200-day moving average price is $366.64. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The company has a market cap of $28.27 billion, a P/E ratio of 58.78 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. The firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.60 dividend. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is 34.38%.

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the sale, the chief accounting officer directly owned 2,133 shares in the company, valued at $1,072,899. This trade represents a 42.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donna E. Epps bought 895 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the purchase, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is owned by company insiders.

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.