Daymark Wealth Partners LLC Has $1.85 Million Stock Holdings in Texas Pacific Land Corporation $TPL

Daymark Wealth Partners LLC boosted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,456 shares of the financial services provider’s stock after buying an additional 4,309 shares during the period. Daymark Wealth Partners LLC’s holdings in Texas Pacific Land were worth $1,854,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after buying an additional 69 shares during the period. Quarry LP bought a new stake in shares of Texas Pacific Land during the third quarter worth $29,000. CX Institutional acquired a new stake in shares of Texas Pacific Land during the third quarter worth $30,000. Silicon Valley Capital Partners bought a new stake in Texas Pacific Land in the 3rd quarter valued at $33,000. Finally, Triumph Capital Management bought a new stake in Texas Pacific Land in the 3rd quarter valued at $36,000. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TPL. KeyCorp increased their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Zacks Research raised Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Texas Pacific Land currently has a consensus rating of “Hold” and a consensus price target of $639.00.

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction 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. The trade was a 42.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Donna E. Epps acquired 895 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 6.90% of the company’s stock.

Texas Pacific Land Trading Down 0.8%

Texas Pacific Land stock opened at $531.23 on Thursday. The company has a market cap of $36.62 billion, a P/E ratio of 76.14 and a beta of 0.83. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The company has a fifty day simple moving average of $445.41 and a 200 day simple moving average of $354.27.

Texas Pacific Land (NYSE:TPL) last issued its quarterly 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. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The firm had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $204.00 million.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a yield of 0.5%. Texas Pacific Land’s dividend payout ratio is currently 34.38%.

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.