Teamwork Financial Advisors LLC Buys 13,914 Shares of Texas Pacific Land Corporation $TPL

Teamwork Financial Advisors LLC increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 94.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,709 shares of the financial services provider’s stock after acquiring an additional 13,914 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Texas Pacific Land were worth $12,564,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Summit Securities Group LLC increased its position in Texas Pacific Land by 171.9% during the 4th quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 55 shares during the period. IFP Advisors Inc lifted its position in shares of Texas Pacific Land by 185.3% in the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 63 shares during the period. Quarry LP bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at $29,000. Eagle Bay Advisors LLC bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at $31,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth $31,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Down 3.9%

Texas Pacific Land stock opened at $341.75 on Friday. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The firm’s fifty day moving average is $392.64 and its 200 day moving average is $421.73. The company has a market capitalization of $23.57 billion, a PE ratio of 43.55 and a beta of 0.60.

Texas Pacific Land (NYSE:TPL) last posted its quarterly 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. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. The business had revenue of $246.10 million during the quarter, compared to analysts’ expectations of $249.50 million. Sell-side analysts expect that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Pacific Land’s dividend payout ratio is 30.57%.

Insider Activity

In other news, CFO Chris Steddum sold 3,170 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $400.25, for a total value of $1,268,792.50. Following the completion of the sale, the chief financial officer directly owned 12,870 shares in the company, valued at $5,151,217.50. This trade represents a 19.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TPL shares. Zacks Research raised shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Texas Pacific Land in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Texas Pacific Land currently has a consensus rating of “Hold” and a consensus target price of $639.00.

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.