Diversified Trust Co Takes Position in Texas Pacific Land Corporation $TPL

Diversified Trust Co bought a new position in Texas Pacific Land Corporation (NYSE:TPL) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,729 shares of the financial services provider’s stock, valued at approximately $1,295,000.

Other hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in Texas Pacific Land during the third quarter valued at approximately $29,000. Silicon Valley Capital Partners acquired a new position in Texas Pacific Land in the third quarter valued at approximately $33,000. Triumph Capital Management purchased a new stake in Texas Pacific Land in the 3rd quarter worth approximately $36,000. MUFG Securities EMEA plc purchased a new stake in Texas Pacific Land in the 2nd quarter worth approximately $59,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Texas Pacific Land by 21.4% during 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 period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Transactions at Texas Pacific Land

In related news, CFO Chris Steddum sold 830 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $400.33, for a total value of $332,273.90. Following the completion of the sale, the chief financial officer owned 12,040 shares of the company’s stock, valued at approximately $4,819,973.20. The trade was a 6.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TPL. Zacks Research lowered shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One investment 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 MarketBeat, Texas Pacific Land currently has a consensus rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Trading Up 2.2%

NYSE TPL opened at $369.10 on Wednesday. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of 50.56 and a beta of 0.61. The stock has a 50-day moving average of $399.98 and a 200 day moving average of $398.72. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 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 return on equity of 35.52% and a net margin of 60.03%. Equities analysts predict that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.60 per share. The ex-dividend date was Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.88%.

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.