Texas Pacific Land Corporation $TPL Stake Boosted by Spirit of America Management Corp NY

Spirit of America Management Corp NY boosted its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 181.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,345 shares of the financial services provider’s stock after purchasing an additional 4,090 shares during the quarter. Spirit of America Management Corp NY’s holdings in Texas Pacific Land were worth $1,822,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI lifted its position in shares of Texas Pacific Land by 1.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 704 shares of the financial services provider’s stock worth $657,000 after buying an additional 12 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Texas Pacific Land by 21.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after buying an additional 12 shares during the last quarter. PFG Investments LLC raised its stake in Texas Pacific Land by 3.6% during the third quarter. PFG Investments LLC now owns 373 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 13 shares during the period. Truist Financial Corp raised its stake in Texas Pacific Land by 0.6% during the third quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock worth $2,050,000 after acquiring an additional 14 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Texas Pacific Land by 9.1% in the third quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 14 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Zacks Research upgraded Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Friday. KeyCorp boosted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Texas Pacific Land has an average rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Stock Down 8.6%

Shares of NYSE:TPL opened at $467.57 on Tuesday. The company’s 50-day moving average price is $455.33 and its 200 day moving average price is $358.68. The company has a market cap of $32.23 billion, a PE ratio of 67.02 and a beta of 0.82. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.73 by $0.06. The firm had revenue of $211.60 million during the quarter, compared to analysts’ expectations 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. Texas Pacific Land’s dividend payout ratio is currently 34.38%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the transaction, the chief accounting officer owned 2,133 shares of the company’s stock, valued at $1,072,899. This trade represents a 42.98% decrease in their position. The SEC filing for this sale provides additional information. 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.