Clearstead Advisors LLC Buys 3,118 Shares of Texas Pacific Land Corporation $TPL

Clearstead Advisors LLC lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 204.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,644 shares of the financial services provider’s stock after purchasing an additional 3,118 shares during the period. Clearstead Advisors LLC’s holdings in Texas Pacific Land were worth $1,334,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position 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 purchasing an additional 12 shares during the last quarter. PFG Investments LLC boosted its position in shares of Texas Pacific Land by 3.6% in the 3rd quarter. PFG Investments LLC now owns 373 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 13 shares during the last quarter. Truist Financial Corp boosted its position in shares of Texas Pacific Land by 0.6% in the 3rd quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock worth $2,050,000 after purchasing an additional 14 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Texas Pacific Land by 9.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 14 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in shares of Texas Pacific Land by 2.5% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 15 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TPL has been the topic of several recent research reports. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. KeyCorp raised their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Texas Pacific Land presently has a consensus rating of “Moderate Buy” and an average target price of $639.00.

Texas Pacific Land Price Performance

TPL opened at $406.29 on Thursday. The business’s 50-day moving average price is $439.74 and its two-hundred day moving average price is $389.45. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The company has a market capitalization of $28.02 billion, a price-to-earnings ratio of 55.66 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last released 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. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $233.00 million. Sell-side analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 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 32.88%.

Texas Pacific Land Company 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.