Texas Pacific Land Corporation $TPL Shares Purchased by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC grew its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the 4th quarter, Holdings Channel reports. The fund owned 2,169 shares of the financial services provider’s stock after acquiring an additional 1,446 shares during the period. SevenBridge Financial Group LLC’s holdings in Texas Pacific Land were worth $623,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bar Harbor Wealth Management boosted its position in shares of Texas Pacific Land by 195.1% during the 4th quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider’s stock valued at $10,591,000 after acquiring an additional 24,379 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in Texas Pacific Land by 212.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider’s stock worth $5,231,000 after purchasing an additional 12,390 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Texas Pacific Land by 187.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 37,764 shares of the financial services provider’s stock worth $11,095,000 after purchasing an additional 24,629 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Texas Pacific Land by 192.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider’s stock worth $38,410,000 after purchasing an additional 88,053 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Texas Pacific Land by 200.6% during the fourth quarter. Nordea Investment Management AB now owns 3,024 shares of the financial services provider’s stock valued at $873,000 after purchasing an additional 2,018 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 2.2%

NYSE:TPL opened at $433.94 on Friday. The firm has a market cap of $29.92 billion, a PE ratio of 62.20 and a beta of 0.67. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The company’s 50-day moving average price is $481.54 and its two-hundred day moving average price is $377.72.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share 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 company had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million. On average, research analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

The firm also recently declared 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 of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s payout ratio is 34.38%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TPL. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Friday, March 27th. KeyCorp raised their target price 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. Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $639.00.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of the stock in a transaction dated Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the purchase, the director owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.90% of the company’s stock.

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.