Evelyn Partners Investment Management LLP Acquires 3,470 Shares of Texas Pacific Land Corporation $TPL

Evelyn Partners Investment Management LLP grew its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,205 shares of the financial services provider’s stock after purchasing an additional 3,470 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Texas Pacific Land were worth $1,495,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after buying an additional 12 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Texas Pacific Land by 9.1% during the third quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock worth $160,000 after buying an additional 14 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in Texas Pacific Land by 2.5% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider’s stock worth $575,000 after buying an additional 15 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Texas Pacific Land by 7.0% in the third quarter. Bridgewater Advisors Inc. now owns 229 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 15 shares during the period. Finally, Aptus Capital Advisors LLC raised its position in Texas Pacific Land by 1.6% in the third quarter. Aptus Capital Advisors LLC now owns 969 shares of the financial services provider’s stock worth $905,000 after acquiring an additional 15 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Up 0.0%

Shares of NYSE:TPL opened at $379.00 on Monday. The firm has a market capitalization of $26.14 billion, a PE ratio of 51.92 and a beta of 0.61. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The company has a 50-day moving average price of $410.12 and a two-hundred day moving average price of $395.31.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.04. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. Analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s payout ratio is presently 32.88%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $400.33, for a total transaction of $332,273.90. Following the sale, the chief financial officer owned 12,040 shares in the company, valued at $4,819,973.20. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TPL. KeyCorp increased their target price on shares of 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 raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Zacks Research lowered Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $639.00.

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.