Diversify Advisory Services LLC Makes New Investment in Texas Pacific Land Corporation $TPL

Diversify Advisory Services LLC purchased a new stake in Texas Pacific Land Corporation (NYSE:TPL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,524 shares of the financial services provider’s stock, valued at approximately $1,001,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Texas Pacific Land by 21.4% in the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 12 shares during the period. Sei Investments Co. boosted its stake in shares of Texas Pacific Land by 1.1% in the 3rd quarter. Sei Investments Co. now owns 1,909 shares of the financial services provider’s stock valued at $1,782,000 after purchasing an additional 20 shares during the last quarter. Larson Financial Group LLC raised its stake in Texas Pacific Land by 5.4% during the third quarter. Larson Financial Group LLC now owns 410 shares of the financial services provider’s stock worth $383,000 after buying an additional 21 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Texas Pacific Land by 1.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,916 shares of the financial services provider’s stock valued at $1,789,000 after buying an additional 24 shares during the period. Finally, Van ECK Associates Corp boosted its position in Texas Pacific Land by 0.5% during the third quarter. Van ECK Associates Corp now owns 4,685 shares of the financial services provider’s stock valued at $4,374,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 2.1%

TPL stock opened at $373.12 on Thursday. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The stock has a market cap of $25.73 billion, a P/E ratio of 47.55 and a beta of 0.60. The stock’s fifty day simple moving average is $387.94 and its two-hundred day simple moving average is $423.04.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, beating the consensus estimate of $2.18 by $0.05. The business had revenue of $246.10 million for the quarter, compared to the consensus estimate of $249.50 million. Texas Pacific Land had a return on equity of 35.76% and a net margin of 60.32%. As a group, analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. Texas Pacific Land’s payout ratio is currently 30.57%.

Analysts Set New Price Targets

TPL has been the topic of a number of recent analyst reports. Zacks Research raised Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $639.00.

Insider Transactions at Texas Pacific Land

In other news, CFO Chris Steddum sold 830 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $400.33, for a total transaction of $332,273.90. Following the transaction, the chief financial officer owned 12,040 shares of the company’s stock, valued at approximately $4,819,973.20. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land 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.