Wealthcare Advisory Partners LLC Makes New $339,000 Investment in Texas Pacific Land Corporation $TPL

Wealthcare Advisory Partners LLC bought a new position in shares of Texas Pacific Land Corporation (NYSE:TPL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,182 shares of the financial services provider’s stock, valued at approximately $339,000.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP purchased a new stake in Texas Pacific Land in the 3rd quarter valued at about $29,000. CX Institutional purchased a new position in Texas Pacific Land in the third quarter valued at about $30,000. Silicon Valley Capital Partners purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $33,000. Triumph Capital Management purchased a new position in Texas Pacific Land in the third quarter valued at approximately $36,000. Finally, Versant Capital Management Inc increased its position in Texas Pacific Land by 75.0% in the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock worth $39,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analysts Set New Price Targets

TPL has been the topic of a number of recent research reports. KeyCorp upped their price target 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Stock Up 1.1%

Shares of NYSE TPL opened at $444.02 on Friday. The company has a market cap of $30.61 billion, a P/E ratio of 63.64 and a beta of 0.76. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The business has a 50-day simple moving average of $462.08 and a two-hundred day simple moving average of $360.96.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. The company had revenue of $211.60 million during the quarter, compared to analyst estimates 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 company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.60 dividend. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. Texas Pacific Land’s payout ratio is currently 34.38%.

Insider Activity at Texas Pacific Land

In related news, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, the director directly owned 2,921 shares of the company’s stock, valued at $1,491,024.45. The trade was a 44.18% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 6.90% of the company’s stock.

About Texas Pacific Land

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.