WCG Wealth Advisors LLC Takes $5.04 Million Position in Texas Pacific Land Corporation $TPL

WCG Wealth Advisors LLC purchased a new stake in Texas Pacific Land Corporation (NYSE:TPL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,560 shares of the financial services provider’s stock, valued at approximately $5,044,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Texas Pacific Land by 192.8% in the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock worth $2,170,512,000 after purchasing an additional 4,975,738 shares in the last quarter. Geode Capital Management LLC raised its holdings in Texas Pacific Land by 203.7% in the 4th quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider’s stock valued at $503,581,000 after acquiring an additional 1,179,788 shares in the last quarter. State Street Corp lifted its position in shares of Texas Pacific Land by 1.9% during the 3rd quarter. State Street Corp now owns 1,169,299 shares of the financial services provider’s stock valued at $1,091,704,000 after acquiring an additional 22,296 shares during the period. Pacific Heights Asset Management LLC grew its holdings in shares of Texas Pacific Land by 235.1% during the 4th quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock worth $178,076,000 after purchasing an additional 435,000 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. lifted its position in Texas Pacific Land by 209.7% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock worth $136,459,000 after purchasing an additional 321,683 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $407.06 on Friday. The company has a 50 day simple moving average of $423.19 and a 200 day simple moving average of $391.93. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The firm has a market cap of $28.07 billion, a PE ratio of 55.76 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last issued 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 net margin of 60.03% and a return on equity of 35.52%. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. As a group, research analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 0.6%. Texas Pacific Land’s payout ratio is presently 32.88%.

Analyst Upgrades and Downgrades

TPL has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. KeyCorp lifted their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Zacks Research cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.