One Charles Private Wealth Services LLC Sells 4,867 Shares of Texas Pacific Land Corporation $TPL

One Charles Private Wealth Services LLC lessened its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 6.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 70,698 shares of the financial services provider’s stock after selling 4,867 shares during the period. Texas Pacific Land accounts for about 7.1% of One Charles Private Wealth Services LLC’s portfolio, making the stock its 2nd biggest holding. One Charles Private Wealth Services LLC’s holdings in Texas Pacific Land were worth $30,940,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TPL. Summit Securities Group LLC lifted its position in shares of 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 worth $25,000 after purchasing an additional 55 shares during the last quarter. IFP Advisors Inc raised its position in shares of Texas Pacific Land by 185.3% during the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 63 shares in the last quarter. Quarry LP purchased a new stake in Texas Pacific Land during the third quarter worth approximately $29,000. Los Angeles Capital Management LLC acquired a new position in Texas Pacific Land in the fourth quarter valued at approximately $31,000. Finally, Silicon Valley Capital Partners purchased a new position in Texas Pacific Land in the third quarter valued at approximately $33,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 5.5%

TPL opened at $382.39 on Wednesday. The firm has a market cap of $26.37 billion, a price-to-earnings ratio of 48.73 and a beta of 0.61. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The business’s 50 day moving average is $385.99 and its two-hundred day moving average is $421.44.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. The business had revenue of $246.10 million for the quarter, compared to analyst estimates of $249.50 million. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. Equities 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 declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 30.57%.

Analyst Ratings Changes

TPL has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Texas Pacific Land in a report on Wednesday, July 29th. Zacks Research raised shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. One equities research 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. According to data from MarketBeat, the stock 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.