Texas Pacific Land Corporation $TPL Stock: Lunt Capital Management Inc. Reduces Holdings

Lunt Capital Management Inc. reduced its position in Texas Pacific Land Corporation (NYSE:TPL) by 28.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,506 shares of the financial services provider’s stock after selling 5,400 shares during the period. Texas Pacific Land accounts for about 1.7% of Lunt Capital Management Inc.’s holdings, making the stock its 20th largest holding. Lunt Capital Management Inc.’s holdings in Texas Pacific Land were worth $4,401,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SwitchPoint Financial Planning LLC boosted its holdings in Texas Pacific Land by 2.2% in the first quarter. SwitchPoint Financial Planning LLC now owns 1,158 shares of the financial services provider’s stock valued at $550,000 after acquiring an additional 25 shares during the last quarter. Atria Investments Inc grew its position in Texas Pacific Land by 2.3% during the second quarter. Atria Investments Inc now owns 1,133 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 26 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Texas Pacific Land by 8.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 29 shares during the last quarter. TCW Group Inc. increased its stake in Texas Pacific Land by 3.2% during the second quarter. TCW Group Inc. now owns 972 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 30 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in Texas Pacific Land by 2.5% during the third quarter. Flagship Harbor Advisors LLC now owns 1,237 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 30 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TPL has been the topic of a number of research reports. Weiss Ratings upgraded Texas Pacific Land from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Zacks Research upgraded Texas Pacific Land from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Texas Pacific Land currently has an average rating of “Moderate Buy” and a consensus price target of $639.00.

Texas Pacific Land Stock Up 0.6%

Shares of NYSE:TPL opened at $331.99 on Wednesday. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 42.31 and a beta of 0.58. The company has a 50 day moving average of $351.47 and a two-hundred day moving average of $400.80. 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 earnings results on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. The business had revenue of $246.10 million for the quarter, compared to analysts’ expectations of $249.50 million. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. On average, equities analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation (NYSE:TPL) is a land and resource management company focused on properties in West Texas, particularly the Permian Basin. The company owns approximately 850,000 acres of land and holds extensive oil and gas royalty interests, making it a significant participant in the region’s energy development.

Texas Pacific Land generates revenue through royalties on oil and natural gas produced from its acreage, as well as from land sales, easements, leases and other surface-related activities.