Lido Advisors LLC Purchases 6,894 Shares of Texas Pacific Land Corporation $TPL

Lido Advisors LLC boosted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 53.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,732 shares of the financial services provider’s stock after acquiring an additional 6,894 shares during the period. Lido Advisors LLC’s holdings in Texas Pacific Land were worth $5,667,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Texas Pacific Land during the 3rd quarter worth about $29,000. Silicon Valley Capital Partners bought a new position in Texas Pacific Land during the 3rd quarter worth about $33,000. Triumph Capital Management bought a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $36,000. IMA Advisory Services Inc. grew its holdings in shares of Texas Pacific Land by 77.8% in the 3rd quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 21 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $46,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $389.54 on Friday. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The stock has a market capitalization of $26.87 billion, a P/E ratio of 53.36 and a beta of 0.61. The stock has a 50-day simple moving average of $420.36 and a 200 day simple moving average of $391.92.

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 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 business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $233.00 million. Research analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Announces Dividend

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 issued 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 (DPR) is presently 32.88%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. KeyCorp raised their price objective 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, Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $639.00.

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.