Teamwork Financial Advisors LLC Increases Stake in Texas Pacific Land Corporation $TPL

Teamwork Financial Advisors LLC increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 94.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 28,709 shares of the financial services provider’s stock after acquiring an additional 13,914 shares during the period. Teamwork Financial Advisors LLC’s holdings in Texas Pacific Land were worth $12,564,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. RFG Advisory LLC grew its holdings in shares of Texas Pacific Land by 24.0% during the 2nd quarter. RFG Advisory LLC now owns 1,045 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 202 shares during the period. NewEdge Advisors LLC boosted its position in shares of Texas Pacific Land by 42.5% during the second quarter. NewEdge Advisors LLC now owns 40,904 shares of the financial services provider’s stock valued at $17,901,000 after purchasing an additional 12,207 shares in the last quarter. IFP Advisors Inc raised its holdings in Texas Pacific Land by 40.8% in the second quarter. IFP Advisors Inc now owns 138 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 40 shares in the last quarter. Baird Financial Group Inc. lifted its position in Texas Pacific Land by 3.0% during the second quarter. Baird Financial Group Inc. now owns 12,309 shares of the financial services provider’s stock valued at $5,387,000 after buying an additional 359 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Texas Pacific Land by 12.0% during the 2nd quarter. Allworth Financial LP now owns 456 shares of the financial services provider’s stock valued at $199,000 after buying an additional 49 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Trading Up 5.5%

TPL stock opened at $382.39 on Wednesday. The stock’s 50 day simple moving average is $385.99 and its 200 day simple moving average is $421.44. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The stock has a market capitalization of $26.37 billion, a PE ratio of 48.73 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. Texas Pacific Land had a return on equity of 35.76% and a net margin of 60.32%.The business had revenue of $246.10 million during the quarter, compared to analyst estimates of $249.50 million. On average, research analysts predict that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 30.57%.

Wall Street Analyst Weigh In

TPL has been the subject of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. Zacks Research upgraded Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.